What is a Short Sale and Is it for Me?

A short sale transaction is where a seller owes more on the balance(s) of their mortgage debt than the property is worth.  The lender(s) would need to accept a short payoff in order for a sale to be consummated - which is why the term "short" sale is used.

Homes which need to be sold due to a seller's need to sell, whether it be due to financial reasons, health reasons or employment or military relocation, and where the mortgage debt (and all other payments and fees required) cannot be satisfied from the sale of the property AND where the seller has demonstrated a financial hardship in which they do not have the means to pay the shortfall, may be eligible for a short sale transaction.

Click here for helpful information provided by the Northeast Florida Association of Realtors®.  For information on HAFA, click here

If you are a seller in need of selling a home where you cannot pay the entire loan balance, give Missi a call to discuss your options and whether a short sale may be a viable answer for you.

If you are a buyer interested in purchasing a short sale home, Missi can help you find the right home that meets your needs, and provide you with the proper guidance and experience needed to ensure a "no surprise" process.  These transactions can be a bit tricky, and you need an expert in navigating through distressed-situation sales.  Missi has experience with both short sale and foreclosure homes, so you can feel confident that you will be keep informed by an agent willing to do the leg work for you.