What Is A Short Sale

A homeowner, who needs to sell their home and is in a position where they owe more than the home is worth, may want to consider a short sale as an optimal solution.  In the past, a bank or lender rarely accepted a short sale; however, due to today's overwhelming changes in the real estate market, banks and lenders

 have become more willing to execute these transactions. Recent changes in corporate policy, along with the Obama administration, have also improved the chances of getting a short sale approved. 

To be more descriptive, a short sale is when:

• a homeowner is "short" when the amount owed on his/her property is higher than current market value of the home.
• a bank or lender (mortgage company) accepts less than the full balance of the loan at closing. A buyer closes on the property, and the property is then "sold short" of the total value of the mortgage. 

                                                                                                                                            Although this may seem simple, it takes the expertise of     experienced professionals to complete this complicated process. We hold a CDPE® Designation and are ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.


If you have questions or feel you qualify for a short sale, please contact us for a free consultation. Understanding the options available to you could mean all the difference in the world.

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