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Patrick O'donnell's Blog

By Patrick O'donnell | Agent in Quincy, MA

Conducting a Short Sale at Little or No Cost to the Seller

A short sale most often occurs when a homeowner is no longer able to pay the mortgage on their property. To avoid large fees for the bank, and foreclosure – not to mention a credit report hit – for the homeowner in default, the bank agrees to sell the property at a moderate loss. You need someone who is experienced with short sales. If you don’t work with a short sale expert, you could run into a number of complications, which you don’t need at an already difficult time. One of the first questions that people ask when they are thinking about a short sale is: How much is a short sale going to cost me?

At Quincy Mass Homes, we charge nothing to the seller for a short sale. Occasionally, there are some other nominal fees associated with the whole process, but for the most part the process should cost nothing up front for the seller. Generally, the first mortgage or lien holder will allow proceeds from the sale to pay the closing costs, broker fees, and any legal fees. Oftentimes, lenders will even pay outstanding municipal electric and water bills.

If you’re considering a short sale, make sure that you’re dealing with someone who knows all the ins and outs of how to get a short sale done, and at little or not cost to you.

Patrick O’Donnell REALTOR®, CBR has extensive experience and expertise in the Quincy, Weymouth, and Braintree real estate markets that will benefit you whether you are looking to buy or sell a home in the area. Buying or selling a home is one of the most important things you will ever do, and we can help make that experience as smooth and successful as possible.

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