Short Sales | Using the FHA-203K Streamline Loan to Avoid Foreclosure | Pensacola Real Estate News

Information for sellers that are in financial stress with the possibility of losing their homes. You know you need to sell. Perhaps you do not know that a "short sale" is a possible solution. Perhaps you have been told that the house should have the carpet replaced or that the interior needs painting or worse that the roof looks like it should have been replaced years ago.

Caught in a Catch-22 situation of needing to sell but not having the money to put into the house to make it more appealing? This is where a possible solution is the FHA-203k Streamline Loan. You may be asking yourself how that can help you, the seller! Here is how.

1. You can market your house as being eligible for the FHA-203k
2. Have a licensed contractor that is experienced with the FHA-203k program provide a written repair estimate
3. Have your real estate agent provide this information online along with your listing MLS info.
4. Have copies of the estimate inside the house for customers and their agents to take with them.
5. Have your agent talk to a local lender that handles FHA-203k's that can also provide info/solutions on how a buyer can purchase your house.
6. Your agent can then provide marketing info showing how a buyer can purchase and close on your house in "as is" condition.
7. This allows a buyer to be put at ease with buying your house when you provide information upfront to a potential buyer.
8. Get your house sold before being foreclosed on.
9. You do not have to be in a distressed situation to offer this solution to buyers.

Jack Lara, Broker-Associate, Distress Property Expert, and Realtor® at Keller Williams Realty of Pensacola. Visit www.PensacolaAreaProperties.com

Call Jack's office (850) 471-5000