What is a Short Sale?

Is when you purchased a home and you wish to sell it now and the property is worth less that you paid for and the amount of your present Mortgage(s) does not cover the mortgage amount owed to the Lender(s).

How can WE help YOU!

Our experts can help you, studying your case, placing the property for sale and negotiating with the Lender, so you may sell your property at today's current market value.

What Do I Have to Do To Get Started?

The first step is to let us know as soon as possible about your situation, the sooner the better so We can work an strategic plan.

Do not wait to the last minute, many people make this mistake and when they call us is already to late, they are been foreclosed and at that point there is very little we can do.

Please complete the contact information and submit, so we can start working immediately finding solutions to your specific situation.

Instructions

Step 1:
Verify the value of your property. If you are selling the property through a real estate broker, your broker will provide you with an estimate of market value. If you are selling the property yourself, do your own market analysis of the area and your property.

Step 2:
Add up all the costs of selling the property. If you are using the services of a real estate broker, the broker will provide an estimate of closing costs. If you are selling the property on your own (for sale by owner), call a local title company or real estate attorney and ask, as a seller, what the closing costs will be.

Step 3:
Determine the amount owed against the property. This will be the total of all loans against the property.

Step 4:
Do the calculations. Subtract the total amount owing against the property from the estimated proceeds of the sale. On a short sale, this will be a negative number.

Step 5:
Contact the lender or lenders. Talk to someone in the customer service department and tell them the situation. They may direct you to a specific department. Talk to a supervisor or manager if possible; this person will have more authority.

Step 6:
Ask the lender what its procedures are for a short sale. Some lenders are willing to work with you by reducing the amount owed or making other arrangements. Others will look to the agents involved (if any) or anyone else who's making money off the transaction to see if they are willing to make concessions to make the transaction happen. Still other lenders will tell you that your debt is your responsibility, one way or the other.

Step 7:
Sell the property.