The short sale process is one that requires specialized expertise, skill and attention on the part of the real estate professional that you choose to represent you. The process is an emotional one for a homeowner, as it indicates severe financial distress and hardship. You need to select the right person to give you the very best chance of correctly and successfully navigating the treacherous seas of a short sale.
A short sale means that a homeowner owes more on the home loan than the house is worth, and the lender or bank (if a successful sale is to occur) will have to agree to take less than full payoff on the loan. The bank or lender, in other words, must agree to accept SHORT of full payoff.
Selecting the wrong real estate professional to assist you in short selling your home can doom a deal from the start. There is not only a significant amount of specialized knowledge and expertise required to successfully close short sales, but the consequences of failure to successfully negotiate the entire transaction can prove particularly disastrous for homeowners. This is a situation where you DO NOT want to use your friend, neighbor or family member who is a licensed real estate agent just to help them out.
Contact us today to discuss your specific situation or to ask any questions that you may have. Of all of the types of transactions in residential real estate, a short sale is the most important one to do your homework and pick the very best real estate professional to work for you.