A short sale is where the lender is willing to take less than what is owed on the property leaving a short fall for the balance owed on the property.
Example: If you owe $150,000 on a house that is worth $90,000 our team of short sale experts will negotiate that debt down for you to possibly $90,0000 allowing you to sell the property for market value. The reason why I say possibly because it’s up to your lender if they will accept that amount. The $90,000 is called a short sale, the lender is technically accepting a shorter pay rather than the full amount owed. The $60,000 difference is the amount of a possible deficiency judgment.
A short sale allows you a fresh start after the house is sold. Having the right Realtor like Sell Fast Realty who are are short sale experts fighting on your behalf to waive the deficiency judgment amount of $60,000 as stated in the example above allows you to not having to worry for the next 25 years looking over your shoulder to see if the banks or bank is coming after you depending if you have one or two loans.
To know more information as to your options on short sale versus foreclosure go to www.SellFastRealty.com and listen to your all your options.
Kimberlee Frank – Short Sale Expert
Licensed Real Estate Broker of Sell Fast Realty
www.SellFastRealty.com – 407-888-3433