Can executor short sell a property if funds will well be deficient ?

Asked by Anita Pinkus, Tech Terrace- U.N.I.T., Lubbock, TX Fri Aug 30, 2013

Help the community by answering this question:

+ web reference
Web reference:


Marsha Bowen…, Agent, Livingston, NJ
Sun Sep 1, 2013
In most cases, a lender will waive any deficiency for the balance of the mortgage for a short sale. To avoid tax consequences, the short sale has to be completed by December 31st 2013.
0 votes
Joan Congilo…, Agent, Freehold, NJ
Sat Aug 31, 2013
For any short sale to be approved you have to first show that you are making an effort to sell the property and you also have to show financial hardship. Everyone's financial situation is different. You really should confer with the attorney for the estate and an experienced realtor that is a Certified Distressed Property Expert and has knowledge of short sales in your area.
0 votes
Gary and Kar…, Agent, Boca Raton, FL
Fri Aug 30, 2013
This is a question for the lender and attorney...

There are occasions where the answer is "yes"

However, it would be my "opinion" if there is money available in the estate they could potentially take any deficiencies. Banks are greedy -

Seek council for guidance here.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more