Short Sales

Across the United States, real estate markets are suffering all time high foreclosure rates resulting from the depreciation of overinflated housing markets. We believe that many people are needlessly suffering the effects of foreclosure due to a lack of information on how to sell a home when more is owed on the mortgage than the house is worth.

Additionally, not everyone who needs to sell a house is in a foreclosure situation. In fact, most people simply need to sell a home due to normal life events but are having difficulty selling because they owe more on the mortgage than they are able to pay off through the sale of their home.

A real estate short sale can be the solution to these problems. A short sale is an arrangement in which a lender agrees to accept a mortgage payoff that falls short of the balance that is owed by a borrower. In other words, a bank agrees to accept less than what is owed on a borrower's mortgage. It is important to note, however, that this arrangement does not always make the remaining balance due "disappear." Sometimes, the borrower remains legally and financially responsible for that amount. However, a foreclosure is avoided through the short sale process, which is the primary goal so that the borrower's credit is not as severely damaged as it would be through a foreclosure. If a foreclosure is imminent, a short sale can help soften the blow.

I have extensive experience with short sales on both the listing (seller) side and the selling (buyer) side. Additionally, I have a dedicated, experienced and certified short sale specialist on my team to advise you and coordinate all aspects of negotiation with your current lender. If you feel a short sale could be beneficial to you, contact me for a no-obligation consultation.