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The Dilemma of Short Sales in Minnesota

By Posted in - Communities on March 19th, 2011 0 Comments

MN short sales

There has been an unfortunate dilemma that has plagued many homeowners during recent current economic times.

Homeowners are faced with the decision to put their house up for sale when the sale price exceeds what is owed on the home.  This type of sale is called a short sale.  A short sale is a better option for homeowners because they do not have to worry about the unfortunate sting of going through a full foreclosure process.

For buyers and sellers in Minnesota, there are experienced realtors who have a bank of knowledge on MN short sale homes and the short sale process.

The areas where home buyers and sellers take a look at short sale listings are in: Eden Prairie, Chanhassen, Minneapolis, Lake Minnetonka, Chaska, Bloomington, Carver County, Minnetonka, Victoria, Apple Valley, Savage, Shakopee, Edina, Maple Grove, Lakeville, St. Paul, Prior Lake, Plymouth and Mankato.  You can check out more information about MN short sales on http://www.minnesotashortsaleteam.com.  In recent years, Minnesota has been named the “Best Place to Work In” and the “Healthiest State” due to the accessibility of vast work and play spaces.  The state boasts a wonderful lake and park system as well as home to many top employers in the United States.  From the twin cities of St. Paul and Minneapolis to the suburban towns of Eden Prairie, Mankato and Deep Valley, many people are choosing to plant their roots in Minnesota.

MN short sales realtors work with clients and someone from either the bank or the loss mitigation department for the loan to gain access to more information about the properties that are listed for short sale.  MN short sale realtors are experienced in dealing with the short sale process which is very different from a regular home buying or selling process.  The process involves checking out the property with the client before making a decision to put an offer in, making sure that all the correct paperwork is filled out based on the lender’s requirements.  This is very important because if the paperwork is incorrect, it can hold up the buying process for the client.

In the City of Victoria, the current short sale prices are between $150,000 to $300,000.  This price is based on the condition of the home and the prices comparable to the area.  An experienced MN short sale realtor will be able to help a potential homebuyer make the best decision if the purchase of a short sale is good real estate investment.  Other MN short sales in surrounding Carver county areas are priced between $200,000 to $400,000.  Again, these prices depend on the condition of the homes and what other homes are currently listed at.

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