Short Sales Real Estate Transactions

If you have a mortgage and, like many in these difficult times, have had trouble making payments, or if you are a mortgage lender and have a borrower in that situation, or you are a real estate sale professional, you may have heard the buzz words "short sale" and wonder what its all about. A short sale occurs where a borrower is behind in making mortgage payments to the lender and the foreclosure process is avoided by selling the property to a buyer even though the purchase price is not enough to pay the mortgage in full. Sometimes it is in the mortgage lender's best interest to settle up with the borrower-seller for less than the full amount owed on the mortgage. These transactions require careful negotiations and well-documented contracts between the parties involved. Also, careful attention to the borrower-seller's title is critical as there may be other debts that show up as liens against the property. If other liens exist, negotiations and written agreements with those lien holder-creditors must also occur in order for good, clear title to pass to the buyers at closing.

Whether you are a borrower-seller, a buyer or a real estate sale professional working on behalf of either, or a mortgage lender in need of short-sale representation, we have the skill and experience to get the transaction completed correctly and efficiently.

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