house short sale

One of the questions I am frequently asked is “Who maintains my home while I am doing a short sale?” The easy answer is, YOU! You still own your home while you are doing a short sale or in the process of a foreclosure. Until the home is sold or goes back to the bank, you are still responsible to maintain it.

Treat your home as you would if your house was on the market for a traditional sale. The bank is not happy about allowing your short sale. So, if they find that your home has been vandalized or not maintained, they are far less likely to agree to a settlement. Also, they are more likely to hold you responsible for the difference between the sale price and what is owed on your mortgage.

It is a good idea to keep the utilities on, keep the heat on and keep the home maintained. If you have any other questions about short sales, please contact us today.