We’ve answered this before but we did want to update what a short sale is in Georgia just to be clear. After all it’s been 4 years of short sales in Georgia. The definition is still pretty much the same:
Don’t be a turkey, this one is really an easy fight. Short Sale VS Foreclosure shouldn’t even be a questions.
We decided to try to compare the options side by side for you.
Taking Action
Doing Nothing
NFCU is at it again. We routinely get e-mails from clients and realtors alike regarding their experience with short sales. Some are similar to our videos and some are horror stories to say the least! Navy Federal Credit Union can and will do a short sale with you but the way they treat their veteran customers is appalling. We mentioned it in this NFCU video, but check out this e-mail I received from a Real Estate Agent in another state.
BEWARE OF NAVY FEDERAL CREDIT UNION
As a 12 Veteran of the US Navy and the spouse of a 25 year active duty Marine Corps Officer, NFCU is the worst possible company to do business with in terms of home loans. I am also realtor (13 Years) and have personally and successfully assisted my clients thru the Short Sale Process.
Who Does Lower Priced Short Sales
We used to have to turn down lower priced homes for sales that were short sales. Short Sales are more than double the work and if the home sells for $30,000 then the bank on average would only pay a real estate agent roughly $900 for the same work it takes to sell a million dollar short sale. The good news is that we have CASH investors that want to buy these homes and are willing to do all sort of creatives things to get it done!
If you have a home that is lower priced, we can handle it!
If you are doing a short sale as a seller of a home in Atlanta, then you might have a Freddie Mac Loan. Freddie Mac short sales are different because Freddie Mac is different, but something just came up recently that shocked us. Not only did Freddie Mac decide that they were going to try to get more than market value but they flat out said their policy is to discriminate against an investor buyer. Their price for an “Owner Occupant” was $8,000 less than the price for an “investor.”
What’s this mean?
If you have a short sale with Freddie Mac you might have to show preferential treatment to owner occupant buyers over corporate buyers. This is counter intuitive since many times the investor is the more qualified of the buyers.
Jarvis Team Realty is the premeire short sale specialist team in Gwinnett County and greater Atlanta. Unlike other teams, we work short sales from start to finish with our own team, including an attorney, title specialist and negotiators (along with real estate agents). 
