Short Sale Negotiation
Since 2009, we have been on the cutting edge of short sale negotiation. Our experience gives us a distinct advantage that benefits our clients and helps our agent partners to grow their businesses.
Our computerized, automated process makes short sales that we negotiate run smoother, swifter and more efficiently than doing it the "old fashioned" way.
And, the best part is that this service is provided by us FREE OF CHARGE. It doesn't cost agents or their clients anything! We negotiate our fee directly with the lender.
What exactly is a Short Sale?
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current borrower.
Both parties consent to the short sale process, because it allows them to avoid foreclosure. A foreclosure involves hefty fees for the bank and poorer credit report outcomes for the borrower.
In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor". A short sale is simply the most economical solution to a problem.
Banks incur a smaller financial loss than would result from foreclosure or or the borrower’s continued non-payment of the mortgage. Borrowers are able to mitigate damage to their credit history, and partially control the debt. A short sale is typically faster and less expensive than a foreclosure.
A short sale does not by itself extinguish the remaining deficiency balance unless settlement is clearly indicated on the short sale approval letter. We try our very best to get this deficiency balance waived for our clients.
Today, lenders are now more willing to accept short sales than ever before. Short sales allow struggling borrowers an opportunity to avoid foreclosure, when they are having trouble selling their home and owe more on their mortgage than their property is worth.
You don't have to navigate this process alone - We are here to help!