One of the buzz phrases of Real Estate currently is the phrase "Short Sales". What is it and how is it done may be your first question. A Short Sale is a process where a lender allows the sale of a home for less than the amount of the note, or the mortgage and forgives the homeowner the deficient amount. This process is to avoid an impending foreclosure. The homeowner must show a hardship to the lender of why the note cannot be repaid. The offer for purchase needs to be an amount that the lender feels that it is in their best interest to accept as opposed to the amount they will eventually receive in a foreclosure. 

This process isn't a right and it isn't guaranteed. Currently the success rate is only 20% to 30%. Every condition is different. The majority of the failures are because of the education of the Realtors handling the transaction. 

If you are behind on your mortgage, you want to sell your home but your afraid that you cannot pay the Real Estate Professional's commission, the commission is included in the Short Sale and are paid by the lender. The homeowner does not get any revenue or pays any fees. 

Find a Realtor that deals with Short Sales regularly, use an expert so that your success is almost guaranteed. Although there are no guarantees. 

The Resident Team are Short Sale Experts. 

Call The Resident Team, we will console you so you understand all of your options. 407-301-0312. Or email us at markhoran@NUMBER1EXPERT.com. We will get back to you within 24 hours. 

If you have missed mortgage payments, don't wait, the clock is ticking.
 

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