Short Sales - What Does That Mean?

A short sale means the bank agrees to accept less than what is owed on a property to avoid the costly and lengthy process of foreclosure. Usually this means the owner has stopped making payments and doesn't have adequate income or assets to sustain the property.

What does that mean for buyers? Short sales do require patience and may take longer to close but the end result can mean you get a property well below the appraised value! All contracts written will be subject to final lender approval.

What does that mean for sellers?  If you are currently behind in your mortgage contact us and we can discuss your options.  A lot of sellers are not aware of the short sale process and  we can guide you through this.

Contact us today for inforomation on short sale or foreclosed properties available on the market!