What is a Short Sale?

It is not uncommon to hear the term Short Sale in the Lake Ray Hubbard Area, but what is a Short Sale?  A Short Sale is simply when the Seller owes more on the property that the property is worth and the bank agrees to take less (or short) what is owed on the property.

Banks will consider a Short Sale because it is often less expensive and quicker than a foreclosure.  In order to qualify for a Shot Sale you must have a hardship (like medical, death or unemployment), the mortgage is in default and you have little to no equity.

I have successfully sold several Short Sales in the Lake Ray Hubbard Area.  For a confidential consultation, contact Sylvia at 214-929-8491.