What is a Short Sale?

WHAT IS A SHORT SALE?

A Short Sale can be an excellent, win-win solution for the distressed homeowner, as well as their bank. The homeowner avoids a foreclosure on their record and the bank avoids the effort and expenses of the foreclosure process.

A Short Sale occurs when a homeowner is in default or sees default as inevitable but they can’t sell their home by normal means because they owe more on their mortgage than the property is actually worth. The bank agrees to accept less than what is owed as payment-in-full.

We see this scenario occurring quite often these days. With the economy the way it is, homeowners who once easily qualified for a home’s mortgage payment find themselves not able to make the payments.

Short Sales can be tricky and it is imperative that you have a Realtor who knows and understands the process. Our team has successfully completed many Short Sales, and we’re ready to help you!

If you think a Short Sale might be your solution, please fill out the short information request and someone will call and qualify you.

Thank you and good luck!

Candace Mann