Utah County Real Estate - Short Sale

Real Estate Broker/Owner with Home Buyer Realty Utah 5705835-PB00

Utah County Real Estate - Short Sale

The time to consider a Short Sale is when your Mortgage is considered to be in default, one or more payments have been missed.  There are a number of solutions available to remedy the situation:

•·         Short Sale/Payoff

•·         Forbearance agreement

•·         Loan Modification

•·         Deed in Lieu of Foreclosure

A Short Sale occurs when a borrower sells their property for an amount that is less than the amount owed to the lender.  To qualify for assistance the borrower needs to prove that they are experiencing a substantial financial hardship.  A hardship is a situation that has life changing effect for the borrower that results in an in-ability to pay the mortgage debt in either, short or long term:

•·         Separation or Divorce

•·         Medical Bills

•·         Inability to work due to health reasons

•·         Death of Spouse

•·         Job Relocation

•·         Reduced Income or Unemployment

•·         Business failure

To qualify for a short sale the borrower must prove that a hardship exists.  The lender must be willing to accept the short sale proceeds as full settlement of the debt.  The property owner is required to do the following when starting a short sale:

•·         Sign a listing agreement with a Realtor

•·         List the property for sale

•·         Cooperate with access, showings, offers and with Realtor

•·         Vacate the home following close of title

•·         Agree not to finance or otherwise encumber the property

•·         Be responsible to maintain the home in "Show" condition

•·         Be responsible for minor repairs to the home

•·         Be a responsible homeowner until close of title and vacancy of home.

When you are considering a Short Sale, make sure you consult a local experienced Realtor to assist you through the process. 

Search Utah MLS Listings

Utah County Real Estate  Utah County Homes  Utah Homes For Sale  Provo Real Estate WS  Orem Real Estate WS  Utah Homes 4 Sale  Alpine Real Estate  Alpine Real Estate  Cedar Hills Real Estate   Highland Real Estate  Eagle Mountain Real Estate   Springville Real Estate   Utah County Real Estate  Utah County Homes 4 Sale  Utah County Real Estate 4 Sale  Springville Real Estate  Lehi Real Estate  American Fork Real Estate  Pleasant Grove Real Estate Alpine Homes for Sale  American Fork Homes for Sale  Lehi Homes for Sale  Pleasant Grove Homes for Sale   Saratoga Springs Homes for Sale  Provo Orem Homes for Sale  Utah County Realtors  Mapleton Homes for Sale  Utah County Realtor MLS Search  Utah County Realtor Map Search Utah County Real Estate MLS Search  Utah County Homes MLS Search Draper Real Estate, Draper Homes for Sale, Herriman Real Estate, South Jordan Real Estate, Sandy Homes for Sale, Salt Lake Homes for Sale, Eagle Mountain Homes for Sale, Eagle Mountain Real Estate, Eagle Mountain Realtor, Saratoga Springs Homes for Sale, Lehi Homes for Sale, Highland Homes for Sale, Cedar Hills Homes for Sale, Orem Homes for Sale, Provo Homes for Sale, Utah Homes for Sale us, Utah County Homes for Sale net

Posted by

Robert A. Hulme 

Home Buyer Realty Utah, LLC
Principal Broker, Owner, Realtor, SRS, GRI, e-Pro

Utah Mobile: (801) 885-2586
Utah Real Estate Search

View Robert A Hulme's profile on LinkedIn


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Utah Utah County Provo

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Robert A. Hulme

Home Listing Partner
Free CMA Available here:
Spam prevention

Additional Information