Talking about a short sale, what is a short sale?

In Pinellas county Florida, St. Petersburg  Madeira beach area,  we have a lot of  "Short Sales"  

Everybody, Buyers, sellers, banks, realtors, we all use the word but for most people it is a new word, a word they have not heard or used before. The first "short sale" seminar that I attended as a Realtor was packed with people, all wanting to know - What is a short sale?

The answer is simple but than again very complex because every short sale is different.

Short sale means that the seller's mortgage is higher than what he can sell the house or condo for in today's market. So, when the owner decides to sell and goes to closing, he would have to bring money to the closing table. Negotiating a short sale with the bank before closing gives the owner at least a chance to minimize his lost.

The bank might forgive some or all of the difference between sales price and loan amount. The key to a successful short sale scenario is finding the right people to guide you. This could be your realtor or your lawyer.

If you, like so many other people, are in the unfortunate situation of being upside down on your mortgage, take action, do not wait. Time is crucial; you need to start the process as soon as possible.

The earlier you start the better chance you have to negotiate a short sale deal.

Anne Hensel, Realtor, CSP, Short Sale Professional, working with homeowners and buyers to successfully close a short sale transaction in Pinellas County Florida. A lot of people here in the Saint Petersburg, Seminole area are facing a short sale situation, Waterfront properties on Saint Pete Beach or Treasure Island  as well as little homes in Seminole or Gulfport. Give me a call today and find out what your options are. Your short sale consultation is free of charge and confidential.