To Move or Not to Move
Many times homeowners have already moved out of their home when they contact me to short sell their home. Some sellers tell me they feel guilty because they can no longer afford the payments and others say they are afraid the lender is going to come knocking at the door any time and evict them. Actually, there is plenty of time to get the home sold as a short sale and preserve the dignity of the seller in most cases. The other fact that many distressed homeowners aren’t aware of is that lenders normally prefer that the owners occupy the property until a sale takes place. Here are a few very good reasons to stay in your home until the short sale closes.
In Ocala, vacant homes are subject to vandalism of the air conditioning units, and many vacant homes are broken into and the appliances are stolen. When the grass grows up around a vacant home, it creates a target for thieves.
If you stay in your home while the short sale is being processed, you are not paying rent and it can save you money. You may be able to pay rent but not pay your house payment, but why spend the money if it’s not necessary? The lender is not going to punish you for staying in the house and not making payments while the short sale is taking place if you can’t afford the payment. They prefer that you stay and take care of the house. In many cases it will help the home sell for a better price.
If you are staying in the home, the utilities will be on and the buyer will need utilities on for inspections. The seller is responsible, even in a short sale, for utilities being on for inspections. It’s true that the buyer is buying on an “as is” contract, but with the right to inspect, and the inspection period usually starts after the seller’s lender approves the short sale. If you are not living in the home, turning on the utilities can be expensive.
In Ocala, having utilities off any time of year can cause condition problems that can be exposed
in the inspection, causing problems with the sale. Hot or wet weather can create mold, and cold or freezing weather can cause frozen pipes. If there is a well for drinking water, having the electricity off can cause problems with potable water.
One more very important advantage is that some homeowners can qualify for special programs
like HAFA,(Home Affordable Foreclosure Alternatives), which will give them automatic debt forgiveness and cash at closing for moving expenses if they are owner occupants or were owner occupants in the past 12 months.
So if you haven’t moved yet, stay in your home and call me today. If you have already moved, call me quickly!
Nancy Deichman
352-351-5429 – Office
352-427-5704 – Cell
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