When there comes a time when you cannot make loan payments on your home, you have to decide whether you should list your home under Venice short sales. It can be a difficult decision to make because there are many pros and cons to Venice short sales.
When deciding if you are going to list your home as one of the many Venice short sales, consider how soon you would like to get into a new home. In a foreclosure, you cannot purchase another home for seven years. With Venice short sales, you could be eligible to buy a home after only two years.
You may have heard that you can protect your credit by opting to put your house under Venice short sales, but this isn’t normally the case. If you list your house under Venice short sales, you credit will take a hit. One of the biggest ways that your credit is affected is because of the number of loan payments that you defaulted before the home sold.
Many sellers opt to list their home under Venice short sales because of the opportunity to retain their dignity. With a short sale you get to sell your home. In a foreclosure you get a sign on your door that indicates a foreclosure. You will have a home foreclosure listed on your credit rating for up to 10 years after a foreclosure.
Finally, many sellers want the opportunity to have some say with the new buyers. They like the opportunity to meet the new owners. With a foreclosure, the home enters an auction and the previous home owners have to say in what happens at that point.
The truth is that all situations in the real estate market are different, and that is why it is always recommended that you align yourself with a specialist in the short sale market so that you can choose the option that will work best for you.