The word short in the term short sale is not regarding the time period that it takes to sell a property but rather regarding the amount the property can sell for. Certain homeowners who have a valid hardship, maybe be able to qualify to sell their property for less then their loan amount. The process of selling their home at a lower price is called a short sale.
In order for the short sale to be successful their are few things that need to come into alignment.
#1 The home owner will have to select a real estate agent that is familiar with the short sale process and that has experience in helping other home owners to short sale their homes.
#2 There has to be a valid hardship
#3 There has to be a willing and able buyer, who understand the short sale process and is willing to wait for the sellers’ lender to approve the sale.
#4 The lender has to approve the sale of the property
To learn more about the short sale process please follow my blogg about each step of the process.
Boca Raton FL Real Estate Sales and Solutions – Tanya M Kovacheva REALTOR
7 Stars Realty is a boutique real estate firm, that is committed to give exceptional care to our clients and exceed their expectations. I specialize in helping buyers and sellers with their real estate needs in Palm Beach County including Boca Raton, Delray Beach, Boynton Beach, Wellington, Palm Beach, West Palm Beach, Lake Worth, Loxahatchee, Highland Beach, and the surrounding areas. (561)-289-8313