When Do I Have to Move Out if I Complete a Short Sale?

Posted on Dec 6, 2011 in Roseville and Sacramento Short Sale FAQs

Hi, I’m Mark Peek here with Keller Williams Real Estate, one of Roseville and Sacramento’s leading short sale teams. One of the most common questions I get from homeowners is, "How long can I stay in my house if I want to do a short sale, do I have to vacate when we start the short sale process or do I still have some time in the house?" Well, the answer to that question is you can absolutely stay while we market the property, negotiate the short sale, all the way through the time that we are able to close the sale. You have all of that time. That period is anywhere from four to six months. It can be sooner, can be longer just depends on your specific property and the market conditions at the time and what value the bank puts on your property. If we are able to go with the value they have or if I have to fight with the bank for what the current market value is.

So, again you definitely don’t have to move out, you can stay in the home even if you’re not making payments for anywhere between four to six months during the process. Then afterwards, I have some tools that I can definitely set you up with to help you find rentals and I can put you in touch with property managers as well so you will have a place to go. People will rent to you even if you’ve missed payments.

If you have any questions, give me a call, my name is Mark Peek with Keller Williams Realty. We are one of Roseville and Sacramento’s leading short sale teams. Thanks and have a great day.

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