Am I eligible to sell my home in a short sale?
- Have you fallen behind on your mortgage?
- Is your home worth less than what you owe your lender?
- Has your mortgage payment depleted your savings?
- Have you relocated, gotten divorced, had a reduction in income or increase in expenses?
- Do you want to move on from your home even though you can afford the payment?
If you answered yes to any of the above questions, then a short sale could be the solution for you.
Just exactly what is a short sale?
A real estate short sale is when you sell your home or property and after payment of all closing costs there is not enough money to pay your mortgage or mortgages in full.
When do I start the short sale process?
You can start whenever YOU want to but in general, the sooner the better. The more time we have to complete your sale increases the liklihood of a successful sale. YOU and your Realtor® call the shots, not your bank.
Why should I do a short sale?
A short sale offers the least amount of consequences for a borrower and allows the borrower the most control of their own financial situation. Read more about the alternate routes you can take: foreclosure, deficiency judgements, deed in lieu of foreclosure, loan modifications and bankruptcy - and it will be clear that this is the best option for you.
How do I complete a short sale successfully?
You've gotten a good start by visiting this webpage. The most important decision you will make is who you select as your Realtor®. This is not your typical real estate transaction to call your uncle's brother's cousin. You need an agent that is familiar with the short sale process and is successful in closing these transactions, not someone who can tell you where the best spot is in your town is to get an ice cream cone on a Sunday.
Read more short sale frequently asked questions.