A short sale situation may be appropriate if the real estate proceeds from selling will fall short of the debts secured against the property in the form of liens. Loosely translated, if you owe more on your home than it is worth, you can list your property as a short sale and negotiate with your lender to settle the debt for less than owed.
The great thing about a short sale is it gives you more control. You are in control of the selling process. There is a process unique to each bank, but there are many programs available to help you settle the debt. There may be a tax consequence associated with a short sale, so see tax advice.
You need a licensed, experienced Realtor to negotiate a short sale successfully. Reach out if we can help you, whether you are considering options or needing to sell, we can help.
Christy Klingler. Realtor
