Home Selling in 11422>Question Details

Darryl Joyner, Real Estate Pro in Floral Park, NY

short sale

Asked by Darryl Joyner, Floral Park, NY Tue Mar 15, 2011

Help the community by answering this question:


Good evening Darryl Joyner,

The definition of Short-sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property. Homeowners rather sell their home as a short sale to avoid penalties associated with going into foreclosure.
0 votes Thank Flag Link Wed Mar 12, 2014
What is your question about short sale where a professional can assist you

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Tue Mar 15, 2011
Since it is stated under your name that you are an agent, consider asking all your questions to your broker owner--he/she can best advise as to any short sale information needed....
0 votes Thank Flag Link Tue Mar 15, 2011
If you are asking about handling short sales for your sellers, there are several options available to you. You can handle them yourself, but they are document and time intensive. You can make a referal to a Realtor in your area who is specializing in short sales. Another option is to have your seller approve the use of a loan mitigation firm, which will not charge a fee unless the short sale closes.
0 votes Thank Flag Link Tue Mar 15, 2011
Is this a question to do one or not? VS loan modification? Foreclosure? Deed in Lieu of Foreclosure? To purchase? To process? To take the listing?

We need more information.

Thank you.
Web Reference: http://terrivellios.com
0 votes Thank Flag Link Tue Mar 15, 2011
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