If you are contemplating doing a short sale or are thinking about contacting a Las Vegas short sale expert to see if a short sale is best for you, now is definitely one of the best times short sale your home for multiple reasons. The first of these reasons is one that we have covered before on this website and that is that banks are offering relocation assistance and monetary incentives to distressed homeowners that are willing to short sale. Many lenders are being more accommodating to homeowners to get short sales approved so that they can get those loans off of their portfolios before the end of the year.
Another reason that you should contact a short sale expert to start your short sale is because there are currently more buyers than sellers in the Las Vegas real estate market. Because of this, the chances of you getting a better price for your home and the chances of it selling quickly are higher.
One last reason as to why this is the best time to short sale your home, and perhaps one that will save you the most money, is that the Mortgage Forgiveness Debt Relief Act expires at the end of the year. You may be thinking you have until December to complete your short sale, and while this is true, a short sale typically takes four to six months to complete, so now is the time to get started to ensure that your home is closed before December 31, 2012. If you would like more information on the MFDRA and to potentially see how much money it could save you in the long run, we recommend talking to a short sale expert for all of the details.
Doing a short sale on your property is almost always a better alternative to foreclosure and currently the many incentives, over abundance of buyers and the MFDRA are all just added benefits. If you are at all interested in doing a short sale or are interested in finding out more information about any of the previously mentioned benefits, talk to a Las Vegas area short sale expert before it’s too late.