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Can Sellers Make a Profit with Venice Short Sales?

Buying and selling real estate can be a great way to make money, and many people consider their home to be the biggest investment they will make in their lives. That is listing your home under Venice short sales can be so painful. You don’t make any profit on the transaction.

The term “short sale” means that the bank is willing to take less payment for a home that what is owed. The nature of Venice short sales suggests that the seller will not make a profit on the deal, and the law indicates the same thing. All the proceeds of the house will have to go to the debtors, whatever profit that may be.

There are some incentives that banks offer when it comes to Venice short sales. Some banks will offer sellers relocation incentives to help them move to a different location, but, as a general rule, the seller won’t receive a monetary sum of money from the sale of the home.
What does the seller receive?

If the seller isn’t receiving a lump sum of money for the sale of the home, why would someone choose to list their home under Venice short sales? The answer is simple. You can preserve your credit more when you opt for a short sale. That means that the ability to buy a house down the road will be more plausible for someone that sells their house as a short sale over someone who opts for foreclosure or bankruptcy.

There really is no way to tell how much your credit will be affected by listing your home as one of the many Venice short sales. All sales are different, but one of the main factors is how far behind on your payments you were at the time the home sold. Most homes listed as Venice short sales will lose at least 100 points on your credit score, but that is a small price to pay to reach financial freedom.