What is a Short Sale?

A short sale is when a bank or mortgage company agrees to accept a payoff that is less than you owe on your property.

Depending upon lender, it is possible to have the loan showing as “satisfied” or “paid in full” and the lender may not pursue attempts at recovery of the difference. However some banks still are attempting to recover that amount. It varies. Your credit will still be affected negatively but not as severely as a full foreclosure.

The Short Sale Process Has Changed Because of New Federal and State Laws.

Now only licensed mortgage lenders * can negotiate the” terms” of a loan with a bank on behalf of a homeowner. Real Estate agents and attorneys can not “negotiate” any terms of your loan with your lender. What we “can” do is assist in the compilation of documents needed by you to apply for a short sale, coordinate communication and the flow of paperwork, educate you on the general procedure issues and government guidelines and do our best to aggressively market and sell your property that falls within the banks set % guidelines. We can get you ready for the contract, provide you with the lenders contact information, and be with you through out the process. You do not have to be alone in this process.

Selling a property through the short sale process can be complicated and lengthy, depending on who your mortgage lender is and what type of mortgage you have. The real estate commission is usually paid by the lender and is not expected to be paid by the homeowner.

The Short Sale Solution

Yes, you can sell your home if it is worth less than you owe on it, and the lender may pay incentives to you for relocation depending on the lender and type of loan. Real Estate Commissions are paid by the lender.

We can help you through this complex and often frustrating process with no up front fees or commission from you! You are probably reading this because times are tough for you and your family. We truly understand and are ready to assist you in this process.

What do you need to do?

1. List your home with one of our members for an extensive comprehensive marketing plan.

2. Contact your mortgage company and tell them about your situation. We may be no longer able to make that call for you, but we can get you ready for the process and help you through it.

3. Cooperate with your lender with any information they may need from you.

4. Prepare and stage your home for showing to perspective buyers.

We take the terms of the short sale you negotiated with your lender and market and sell your home for you. We can still work with the mortgage company in any way that does not include any discussion of the terms of your loan.

Are You Eligible?

· Are behind on your payments?

· Do you have a hardship situation?

· Do you owe more on your property than it is worth?

If you think you may be eligible for a short sale, call us for a confidential, no obligation consultation.