The Short Sale Process
If you qualify for this option, the process is similar to a normal real estate sales transaction. You will work with a real estate agent to market and sell your home. However, your mortgage company will also be working with you and your real estate agent every step of the way to:
- Set the sale price (based on current market value),
- Collect financial information and negotiate with other lien holders (i.e., your second mortgage company) if applicable,
- Review acceptable offers,
- Agree to the terms of the sale once a buyer is in place, and
- Work with the buyer’s real estate agent and mortgage lender to finalize the sale.
In some cases, you may be eligible to receive relocation assistance to use toward your moving expenses and to make the transition to new housing easier.
A Short Sale may take up to 120 days, but this could be shorter or longer depending upon your specific situation. Contact Me to schedule a Free Short Sale Consultation.