How Do You Determine If A Real Estate Short Sale Can Help You?
Whether you are a homeowner, Realtor, consultant, real estate investor, or real estate professional, real estate short sales can help you. Step 1 is to define and understand what a real estate short sale is. A real estate short sale occurs when a property owner sells their property for less than the mortgage amount owed to their lender(s). On the surface, this may seem like only the borrower benefits from such a transaction. However, that couldn’t be further from the truth. Note: See our “Are You a Short Sale Candidate” to find out if you or someone you know are short sale candidates. Step 2 is to determine which category your personal situation fits into and to determine if a real estate short sale is right for you. For discussion purposes we are going to assume a homeowner is a short sale candidate. For the homeowner, a short sale makes it possible to sell their home for less than the total amount owed. The sale of the property releases the homeowner from their debts and obligations
