What is a Short Sale

What is a Short Sale? 

You will often hear this on the news or while surfing the internet.  It means when a homeowner sells their home for less than what they owe on the mortgage. The Realtor negotiates with the bank to accept the contract for less money.  As a seller, it is important to talk with a real estate attorney and CPA as there can be tax consequences.   It is one of the last steps a homeowner can do to try and salvage their credit and dignity.  You may not know a potential home for sale is a short sale.  As your Realtor,  I make sure I know this information and how it affects your buying or selling.  This is quite often a long process from start to finish, since the contract is contingent upon the sellers lenders approval, but if you have the time to wait, it is more than worth your troubles!  To receive short sales in this area, please fill out the short contact form, in the comment section please let me know your  interests, (# of bedrooms, bathrooms, price range, etc.)  I will send you a list of homes to look at.  You can make your own choices when you get the list, make it your own so to speak.  Be prepared to “whittle” your search and be picky because there are many short sales to choose from in this area.