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Can I Lease Out My House While We Wait for the Short Sale?

Sep 11, 2012
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It depends. Some loans, such as an FHA loan will deny the short sale if you are not occupying the home. However, most other loans will allow you to rent the home out.

There are advantages, and disadvantages to renting the home out that we can discuss on the phone, call me at 801-805-4900.

Some Advantages - Income, secure home, money available from rents to be used in the event your bank, a lien holder, the HOA, a utility company, etc. requests a cash payment from you prior to selling.

Some disadvantages - Difficult to show, tenants may need to have quick notice to move out when the home sells, will take longer to get offers, home may not be kept in a clean condition, damages could occur in the home.

If your home is not currently leased out, but you want to have it leased contact me and I will discuss the needed items for the lease agreement.

If your home is already leased out I have a plan that has been very successful to keep the tenants happy, and allow us to work with your bank on the short sale. Call me or email me to discuss... 801-805-4900, This email address is being protected from spambots. You need JavaScript enabled to view it. .  You can also fill out our Rapid Response Form.

Read 1968 times Last modified on Wednesday, 26 September 2012 19:13
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