Home Selling in Interlachen>Question Details

Ejeffers, Other/Just Looking in Hawthorne, FL

Could someone tell me what exactly a short sale is, how to go about having one and who to contact?

Asked by Ejeffers, Hawthorne, FL Sun Jul 22, 2012

Help the community by answering this question:


Question, if you don't know what a short sale is, why would you want information on how to go about having one?

The most common misconception about short selling a property, is that anyone can do simply because they owe more than the property is worth. This is not accurate. Before you consider this option, you must first validate that you have an eligible hardship. An eligible hardship may be a qualifying illness and related medical bills, extended loss of employment, and equally important, a delinquincy on your mortgage payments.

Without a qualifying hardship, you will not be allowed by your mortgage holder to sell the property for less than you owe on the mortgage just because you want to or just because it stinks to owe more than the property is worth, unless you agree to pay the difference at closing of the sale.

The link I have included will provide more detail on the subject. Good luck and God bless!
1 vote Thank Flag Link Sun Jul 22, 2012
A short sale is a property where a Seller is trying to sell a home and owe more money than they could currently sale the home. The Seller would not have enough money to come to the table and pay this deficit.
0 votes Thank Flag Link Sun Jul 22, 2012
A short sale is when the home owner owes more than their house is worth and HAS to sell. It is best to list with a full time, local agent who is WELL experienced in listing, negotiating and selling short sales. As a seller you will need your last 2 years tax returns, last 2 mo bank statements, a list of what you ow and what your income is. your agnet will have to appraise the home. you then have to find a buyer. once you do the package is sent to the bank for approval. It could take 30 days to 6 months depending on your bank and how good your agent is.
0 votes Thank Flag Link Sun Jul 22, 2012
We talk way to much about this subject and we get sort of tired doing it. Do a google search for short sale and you will get hundreds of links to read.
0 votes Thank Flag Link Sun Jul 22, 2012
why even reply if your to lazy and arrogant to answer the question?
Flag Wed Jul 25, 2012
When I entered this subject in keyword it said nothing matched sorry but I am new to this site.
Flag Sun Jul 22, 2012
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