Home Selling in Milwaukee>Question Details

Zenovia, Home Owner in Milwaukee, WI

can you do a short sale if the property is paid in full?

Asked by Zenovia, Milwaukee, WI Mon May 16, 2011

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14
Ask your question out loud and think about it. IF it is paid in full, who is there to "short"?
1 vote Thank Flag Link Mon May 16, 2011
A short sale is for those who can no longer pay their mortgage for one reason or another and are "upside down" with the bank. It is not for people whose houses are paid in full. You can attempt to sell your house quickly by pricing it right and making all the necessary improvements.
0 votes Thank Flag Link Tue May 22, 2012
A short sale is when the homeowner owes more than the home is worth. For example, the loan amount is $300,000 and the home is worth $150,000. I have ran into some people that think a short sale is just a quick sale. If your home is paid in full and you would like to sell it quickly then I suggest pricing it aggressively to get it sold in a short amount of time. Hope this helps. If you need help finding an agent in your area, don't hesitate to call or email me. I can refer you to a few good agents in your area.

Michelle Gonzalez
RE/MAX College Park Realty
562-572-5224 Direct
Michellegonzalez411@gmail.com
0 votes Thank Flag Link Tue May 22, 2012
Theres your sign lol.... You would not want to short yourself.
0 votes Thank Flag Link Tue Mar 13, 2012
Zenovia - Why would you want to do a short sale on the property?
0 votes Thank Flag Link Tue May 17, 2011
Hi Zenovia, in response to your specific question see the answers below. If you have questions about selling your home such as its current market value or the process itself, I'd be happy to answer your questions and address your concerns about a short sale.
0 votes Thank Flag Link Mon May 16, 2011
The amount you owe has to be more than what you owe on it. If it is paid in full, there is no bank that has an interest in it.
Web Reference: http://www.kraushouses.com
0 votes Thank Flag Link Mon May 16, 2011
Hi Zenovia!

I agree with the others. If there is no lender, the house is paid for you wont be able to do a short sale.
Check out http://www.homesforsale-agentds.com to get more of an idea of what a short sale is.

Best wishes!
0 votes Thank Flag Link Mon May 16, 2011
No. The value of your home has to be less than what you owe on it.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon May 16, 2011
No. The value of your home has to be less than what you owe on it.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon May 16, 2011
No. The value of your home has to be less than what you owe on it.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon May 16, 2011
Zenovia,

Are you looking to purchase or sell? As stated below if the property is paid in full there is no lender and as such there would be no short sale situation.

Troy
0 votes Thank Flag Link Mon May 16, 2011
No.

In a short sale, the lender is agreeing to accept less money than is owed on the property. In your case, if no money is owed on the property, there's no lender anymore.

If you own a property paid in full, you can sell it for as little as you wish. Yes, it might be less than what you paid for it, but that's totally your decision. No one else has to get involved.

Contact a Realtor for more information.

Hope that helps.
0 votes Thank Flag Link Mon May 16, 2011
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
sure .. if you want to give away your money ... not sure what you meant by "short sale" here !
0 votes Thank Flag Link Mon May 16, 2011
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