What is a short sale?
A short sale takes place when the proceeds of a real estate sale are less than the balance owed on the actual loan. A short sale is typically agreed to in order to prevent foreclosure. Many times a bank will choose to allow a short sale when it believes it will result in a smaller financial loss than a foreclosure. For the homeowner, there are several advantages including avoiding foreclosure on their credit record. A short sale is nothing more than negotiating with lien holders a payoff that is less than what they are actually owed.
Whether you're a buyer looking to take advantage of the savings a short sale can provide or a seller on the hunt for a short sale Realtor, Springs LifeStyles Real Estate is here to serve you. We are a locally owned real estate brokerage firm that specializes in short sale properties.
