We Are Short Sale Specialists.

Short Sale

A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.

For Buyers

Buying a short sale could be frustrating because the offer needs to be approved by the short sale lender. The approval process takes in average between 45 up to 90 days. In some cases, the short sale lender might denied the short sale or might counter offer higher. If the buyer is not willing to accept the counter offer, the transaction will be cancelled.

For Sellers

1. Short Sale: Quickest option to recover your credit. Your debt will be settled and in most cases, balance forgiven. You can purchase another property in a near future. 2. Deed and lieu: Return the deed to the lender. Your debt will not be settled until the lender sells your property, if sold for less, you will be responsible for the balance. 3. Loan Modification: Lender analyzes your finances and decides if your loan can be modified to offer an affordable monthly payment or deny modification and continue with the foreclosure process. 4. Foreclosure: Property will be sold at the Sheriff Sales; you will be liable for the balance. In case it's not sold, bank will take possession and sell the property. You will be responsible for the balance and your credit will be damaged for many years.