A short sale occurs when the market value of a property is less than the outstanding balance on the mortgage. The lender(s) agree to accept less than what is owed on the property in order to avoid a possible foreclosure situation. Upon approval from the lender, the seller is able to walk from the property limiting their potential credit damage and tax liability. You should note that short sales may not be for everyone, call or read on to see if it is a viable option for you.
I have put together a series of six videos that will discuss all aspects of a short sale and what you can anticipate when doing a short sale. Watch the videos below and please call me for your free one hour consultation to discuss the specifics of your short sale.
Short Sales
A short sale occurs when the market value of a property is less than the outstanding balance on the mortgage. The lender(s) agree to accept less than what is owed on the property in order to avoid a possible foreclosure situation. Upon approval from the lender, the seller is able to walk from the property limiting their potential credit damage and tax liability. You should note that short sales may not be for everyone, call or read on to see if it is a viable option for you.
I have put together a series of six videos that will discuss all aspects of a short sale and what you can anticipate when doing a short sale. Watch the videos below and please call me for your free one hour consultation to discuss the specifics of your short sale.