Short Sale - Are You Sure You Want It?

Most people by now know what a short sale it.

In short, just in case, the bank has worked out an agreement with the owner of a property & mortgage what they will accept in order to sell the property. Short means the bank will be short of what the mortgage is actually worth. Most times, short sales work in conjunction with Realtors. It is very important a Realtor and /or a real estate attorney should help you with some of the decisions that need to be made.

Biggest Problem: the banks are overwhelmed. It is very important to make sure they stay on top of things, especially if there is a contract. A Realtor can do that - and should.

Another Problem: a lot of agents just don't want to show property that is in short sale. If a contract of sale is written it takes forever and in fact it just might not happen. Also, sometimes, agents don't get paid for their work and effort.

My advice: price low and market the heck out of it.