Short Sales

SELLERS: DID YOU KNOW?
Short Sales service is FREE, AND you could be eligible for $$$$$$ in the process!


Email Us Today! We'll help you stay above water!

Unapproved Short Sales:

Any homeowner can advertise their property as a short sale. But it doesn't mean their bank/mortgage company will be willing to let them sell it at the price they're asking.

An owner hires a real estate agent, and they put the property on the market. The asking price is determined between the owner and the agent at this point, not the bank/mortgage company.

When an offer comes in, they will submit to the bank for approval. The bank will then order a BPO (like an appraisal), and will try to negotiate with any other 2nd mortgage or lienholders.

If that contract amount makes them happy, they'll approve the sale and you can expect to close anywhere between 6 weeks and 3-4 months.

If the amount they would get doesn't make them happy... they won't approve the sale and/or they will notify the owner of the amount they need to get from the sale. The buyer may walk away, or they may adjust their offer accordingly.

If that buyer walks away... the property is then listed back on the market but as an "approved short sale" because the owner has now been told, by their bank, the amount they need to sell it to successfully close the deal.

Approved short sales are very similar to a conventional sale and can close anywhere between 1-3 months.

Approved Short Sales:

If that buyer walks away... the property is then listed back on the market but as an "approved short sale" because the owner has now been told, by their bank, the amount they need to sell it to successfully close the deal.

Approved short sales are very similar to a conventional sale and can close anywhere between 1-3 months.

For buyers... if you want to buy quickly or within the next 1-3 months... it's best NOT to look at unapproved short sales! But "approved short sales" could work, and might get you a great deal.

But IF you have plenty of time and patience... unapproved short sales can be the way to go!




NEED HELP?

INTERESTED IN FINDING A SHORT SALE? Hire an experienced real estate agent to help through the process!

Our service is always FREE to buyers. It is the OWNER/ OWNER'S BANK that pays your agent for helping you. So WHY NOT enlist the help of a professional!!




How Short Sales work for an owner:

OWNER SAVES CREDIT SCORE... in comparison to letting the property go into foreclosure. While a foreclosure will most likely RUIN someone's credit for 7+ years by demolishing their score by 250+ points or more and rendering it impossible to buy another house or similar large purchase for a long time... a short sale might not even effect the score at all.

Credit scores are affected by nonpayment of monthly mortgage. Some banks will allow short sales with no missed mortgage payments at all (which means no negative effects on the credit report) and some banks will want to see missed mortgage payments. Why? They want to know for sure the owner can no longer afford to pay. They require the owner to submit lots of financials to prove they can't afford the payments any longer. Some banks will allow the owner to get out quickly, others will take a longer time. If it takes a while, the owners credit score could go down as much as 75-150 points but generally only lasts 1-2 years at most. Of course this will vary, but these are the estimates currently reported by those having gone through the process. However,if the property is an investment property (NOT a primary residence)... chances are a short sale will take longer or not be approved at all. 

But most owners find that this option is much easier to recover from, than going through a foreclosure.




Fill out the form below, and we'll provide you with a list of matching short sale properties to consider!

Need Help Finding a Great Deal? Check all that apply below!

Please note that all fields followed by an asterisk must be filled in.
Investment
To be Owner-Occupied
Ready to Buy Now!
Next 2-3 months
Within 6 months
Within a year
Short Sale - unapproved
Short Sale - approved
Foreclosure (auction)
REO (bank-owned)
Aventura
Coral Gables
Cutler Bay
Doral
Falls
Gables by the Sea
Homestead
Miami Shores
Miami Springs
Palmetto Bay
Pinecrest
Redlands
South Miami
Virginia Gardens
Other (write in comments below)
0-1 Bedrooms
2 Bedrooms
3 Bedrooms
4 Bedrooms
5+ Bedrooms
Under $110,000
Up to $150,000
$150,000 - $250,000
$250,000 - $350,000
$350,000 - $500,000
$500,000 +
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