What is a Short Sale?
A short sale is when a home that sells for less than the mortgage loan is worth. This is accomplished by providing proper documentation to the lender(s) to convince them to reduce the mortgage balance to allow the sale. The goal of a short sale is to help you avoid foreclosure if you are no longer able or willing to retain your home. Our job is to convince the lender to approve the reduced sales price and forgive any deficiency in the remaining mortgage balance or work with them to develop the best option for you.
What is in it for the Homeowner?
- Allow the seller to walk away free and clear, without any deficiency judgment from your lender for the difference between what you owe and what your home sells for
- Sell your house without foreclosing or going bankrupt
- Stop those harassing phone calls
Why choose and trust Sandora & Fiteny Real Estate for a short sale?
The agents at Sandora & Fiteny are experts in the traditional sale of a home. We also specialize in short sales by working with our strategic partner, Short Sale Pros www.shortsalepros1st.com. Combined we offer specific expertise in short sales and work with distressed homeowners who are upside down on their home. There is no additional fee for us to prepare, submit, process and negotiate the short sale of your home.
If you are concerned that your home may go into foreclosure and you have not qualified for alternatives that would enable you to stay in your home, a short sale is an option you may want to consider. We’ve been negotiating with lenders since March of 2008, and our experience provides significant credibility because we have insight into the banks decision making process. We have negotiated hundreds of short sales for our clients.
- We achieve better results than most other real estate agents, title companies, lawyers and law firms which are validated by our 98% record of success
- We have instructed countless agents and other professionals on how to successfully close short sales and are approved by the State of Michigan for continuing education focused specifically on short sales
- We provide references from past short sale clients and attorneys
What are some of the differences between foreclosures and short sales?
Short Sales result in credit score reductions typically between zero and 200 points, but a foreclosure typically results in credit score reductions between 200 to 400 points, and is reflected in your credit report for 7 to 10 years. Both options damage your credit, but a Short Sale is significantly less damaging. The seller can typically purchase again in 24-36 months.
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