Short Sale

Do you owe more than your house is worth?

We Are Experienced Agents who know how to handle short sales in Virginia, DC and Maryland. We use experienced short sale negotiators to get the best possible outcome. Our Services are FREE- We don't get paid unless we close -sellers do not pay Realtor commissions on short sale transactions.

WHAT IS A SHORT SALE?

A short sale occurs when a lender agrees to accept less than the amount owed to payoff a home loan as an alternative to foreclosure. The lender usually agrees to a short sale because they know if they take the property back through foreclosure they are going to take a loss anyways.

Our short sale negotiators have experience convincing lenders that they will do better if they take less than what is owed now, rather than taking the property back through foreclosure and trying to sell it later. Keep in mind, not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense for the lender to foreclose.

Example of a Short Sale: A Homeowner has an unpaid home loan balance of $325,000. Once an offer is received, Our professionals negotiate with the lender on behalf of the homeowner. We get the lender to agree to accept an offer of $275,000 as payment in full. The home is sold to the new buyer and the homeowner's credit shows loan paid in full.

In some cases, a second or even a third mortgage may exist on the property. When this occurs, the process becomes much more complex. We will need to negotiate between the existing lenders as to the actual payoff amount they are willing to accept in relation to the other lenders.

HOW DO WE GET PAID?

We will negotiate directly with the bank for all real estate agent commissions. In most cases, the bank will offer the listing agent a smaller than average fee for performing the marketing and negotiation responsibilities associated with representing a seller. Regardless of our actual commission, we will provide our clients with the full service and marketing dedication that we guarantee to all of our clients.

HOW LONG WILL IT TAKE?

The short sale negotiation process is a lengthy one. It may take several weeks to months before a lender and home owner can agree on acceptable terms.

BUT MY HOUSE IS GOING TO FORECLOSURE, WILL I HAVE ENOUGH TIME?

Starting a short sale will not automatically stop the lender from starting the foreclosure process. However, we have successfully convinced lenders to postpone a foreclosure while we negotiate a short sale. While there are no guarantees, we will do everything that we can to get your home sold before the lender follows through with their foreclosure.

CAN I STAY IN THE HOUSE?

The key word in short sale is SALE. The purpose of a short sale is to get the property sold. So, you will be moving. This is not a program that can stop a foreclosure and allow you to keep the house indefinitely. It will be easier to sell the house if it is vacant, so you should make plans to move as soon as possible. If you cannot move out of the home for financial reasons, at least make sure the home is easily accessible to potential buyers.

HOW DO I KNOW THIS WILL WORK?

Be very cautious of anyone who offers a guarantee that they will be able to negotiate a short sale. We will not make any promises to you that a short sale will work. Once you missed a payment, the lender is in charge and can proceed with foreclosure if they decide on that option. However, in light of the current real estate market, lenders are aware that they might have a better chance of selling a home via short sale instead of reclaiming the property in a foreclosure.

WILL I GET ANY MONEY FROM THE SALE?

No. A universal requirement of the lenders in granting a short sale is that the borrower will not get any proceeds from the sale of the property. The lender is going to take a loss on the home loan - they are not going to let you get any money.

WHAT HAPPENS IF THIS DOES NOT WORK?

If you are facing foreclosure, the mortgage lender may be willing to work out a payment arrangement plan with you.

Foreclosure can be an extremely stressful situation to deal with alone. We want to help you find the best possible solution to get back on your feet. What we offer is an alternative to foreclosure to help save your credit, your finances, and your piece of mind. Your situation may not be as impossible as it seems. The difficulty of the situation for you right now is completely understandable and there is indeed light at the end of the tunnel. Thousands of good people just like you have found themselves in similar situations. The solution many of them chose was the Worry Free Short Team. We are uniquely qualified to do whatever it takes to solve your real estate or mortgage issue while keeping your credit in good standing. Give us a call today to find out how we can help at absolutely NO charge to you. Homeowners can avoid the financial pain and stress of foreclosure. If you are currently behind on your mortgage, and owe the bank more money than your home is worth, we can help you avoid a foreclosure that would remain on your credit report for the next 10+ years. We understand there are many reasons why homeowners may get in over their heads, and we are here to help you in your specific situation.

contact one of our Short Sale Specialist for more info..