{"id":21242,"date":"2012-08-20T09:59:04","date_gmt":"2012-08-20T16:59:04","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=21242"},"modified":"2015-05-29T07:41:35","modified_gmt":"2015-05-29T14:41:35","slug":"underwater-pros-and-cons-of-trying-a-short-sale","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/08\/20\/underwater-pros-and-cons-of-trying-a-short-sale\/","title":{"rendered":"Underwater? Pros and Cons of Trying a Short Sale"},"content":{"rendered":"

Seattle Bubble regular Kary Krismer recently wrote a pair of posts drawing on his legal and real estate experience to give a relatively unbiased look at the factors to consider when you’re thinking about whether you should or shouldn’t try a short sale if you’re underwater and want to get out of your home.<\/p>\n

On the pro side<\/a>:<\/p>\n

    \n
  1. Avoid a Foreclosure on Your Record<\/li>\n
  2. Less of an Impact on Credit Scores<\/li>\n
  3. Shorter Time to a New Loan<\/li>\n
  4. Less Embarrassment<\/li>\n
  5. Possible Waiver of Deficiency on Junior DOTs<\/li>\n
  6. Tax Consequences<\/li>\n
  7. Extend Time In House (“Free Rent”)<\/li>\n<\/ol>\n

    And on the con side<\/a>:<\/p>\n

      \n
    1. Less Time in House (Less “Free Rent”)<\/li>\n
    2. Possible Deficiency<\/li>\n
    3. Tax Consequences<\/li>\n
    4. Annoyance of Selling an Occupied Home<\/li>\n
    5. “Manufactured” Judicial Foreclosure<\/li>\n
    6. Potential Liability to Buyer<\/li>\n<\/ol>\n

      Click through to the pro<\/a> or con<\/a> post for his full write-up of each reason.<\/p>\n

      What about you? If you were (or are) underwater on a home that you don’t want to (or can’t) keep anymore, would you give a short sale a try? Why or why not?<\/p>\n","protected":false},"excerpt":{"rendered":"

      Seattle Bubble regular Kary Krismer recently wrote a pair of posts drawing on his legal and real estate experience to give a relatively unbiased look at the factors to consider when you’re thinking about whether you should or shouldn’t try a short sale if you’re underwater and want to get out of your home. On…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[11,1108,275],"coauthors":[],"class_list":["post-21242","post","type-post","status-publish","format-standard","hentry","category-features","tag-advice","tag-kary-krismer","tag-short-sales"],"yoast_head":"\nUnderwater? 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