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Short Sales

What is a short sale?
  • A short sale is the sale of real estate in which the sale proceeds are less than the balance owed on the property.  
  • For borrowers who owe more on their mortgage than their property is worth and are having trouble selling, short sales present an opportunity to avoid foreclosure. 
Short Sale Process
    • Both parties consent to the short sale process, which allows them to avoid foreclosure, which involves more fees for the bank and foreclosure being reported on the borrowers credit.
    • The bank or lender agrees to discount the loan balance because of a financial hardship on the part of the borrower. 
    • The home owner sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. The remaining deficiency balance remains the sellers responsibility unless settlement is indicated on the acceptance of offer.
Contact Us
To speak with a short sale specialist complete the contact form below or for immediate assistance call or text (281) 891-3007