We specialize in Short Sales. A Short Sale is when a seller is in a financial hardship due to a variety of reasons (loss of employment, divorce, death of borrower, etc.). In this case the seller owes more than the house is worth and can’t afford to sell their home. We get the sellers lender to take a loss, so the seller does not owe any money in the transaction, avoiding foreclosure. We represent the sellers in the transaction and get paid BY THE BANK.
The short sale process is very complex and requires an expert to navigate the lenders processes.
With our experience and knowledge of the process, our closing rate is 98%.
We have experience with over 45 different lenders and process over 100 short sales every month.
We can process short sales in ANY market.
“Financial hardship” is a critical part of the short sale equation. No matter what you hear about banks “not being in the business of owning real estate,” they do not easily give homeowners a break. They require good reason to give a discount for a short sale.
The only reason a lender will agree to a short sale is if they determine that a short sale will net them more money than proceeding with the foreclosure. Understanding the homeowner’s financial hardship plays a major role in the lender’s estimation of whether or not the mortgage will be paid in full. Lenders may make the borrower pay the shortfall if there is no hardship.