The Short Sale Process

Short Sales - We Specialize in Short Sales.

What is a Short Sale?

In a short sale the lender receives a relatively high price for a fast property sale. The borrower protects their credit. They also generally avoid possible future deficiency judgments and legal action. Both the lender and the homeowner win in a Short Sale.

When a borrower sells their property for a sales price less than the amount which they owe the lender less sales expenses and fees, this is know as a Short Sale. The lender must accept a discounted payoff amount in order for a Short Sale to take place. This means that the bank(s) get receive less than the full loan amount owed. The homeowner is relieved of the full debt of the mortgage.

The ultimate outcome is that the mortgage is paid off, the house is sold and the borrower avoid foreclosure and possible bankruptcy. The borrower typically receives an immediate improvement in their credit rating due to the mortgage being paid in full.

What type of properties can be short sold?

Any type of properties can be sold through a short sale if the circumstances about are met.

Benefits of a Short Sale

A short sale prevents a foreclosure from occurring.

• Many experts believe that a foreclosure is much worse than a bankruptcy. A Foreclosure damages credit up to 7 years and bankruptcy up to 10 years.
• The Short Sale Service is FREE to you; the lender covers all the costs involved.
• If your property is sold at an auction, you may owe deficiencies and other expenses to the lender. Under most short sales we negotiate, the homeowner will be relieved of this possible future headache.

Does It Matter Who Does a Short Sale?

Yes, it does matter. Typically realtors only get about 15% of short sales approved. We work with the largest and most successful short sale processor in Florida. Their success rate is over 95%.

What Happens If I Don’t Do a Short Sale or my Short Sale is Unsuccessful?

Either way you would get the same result. A foreclosure would occur in either case. We focus on helping you avoid a foreclosure which can impact your credit more than a short sale. After a short sale is completed your credit report will show that the mortgage has been satisfied. This will typically cause an immediate improvement in your credit report.