In some areas 50% or more of homes that are closing are
distressed, a short sale or foreclosure. By definition, a short sale is “a situation
where a borrower owes an amount on their property that when combined with
closings costs and commission is higher than current market value.” If the
borrower wants to sell their property then the homeowner & the mortgage
company enter into negotiations to accept less than the full balance of the
mortgage note at closing. A buyer closes on the property & it is “sold
short”. While this may sound easy enough, a short sale is actually a long &
complex process. It’s a process that takes a realtor with patience, experience,
good communication, organization & professionalism. I have successfully
assisted homeowners in successful short sale negotiations. As I explain the
process of a short sale, contact me (Tampa Realtor) anytime if you find
yourself in this situation & need assistance.