Real Estate Short Sale

What is a real estate short sale?

A real estate short sale occurs when the outstanding obligations (loans) against a real estate property are greater than what the property can be sold for. A real estate short sale is the process where an interested buyer or real estate investor negotiate with the lender for them to settle the loans for less than amount owed.

When can a real estate short sale be done?

A real estate short sale is ideal when there is no equity in the home. In another word, the homeowner is upside down on his or her mortgage. Since the homeowner owes more on the home than it is worth, he or she cannot sell it on the market for enough to pay off the loans. In a real estate short sale case, the homeowner cannot afford to keep paying the mortgage payments because of his or her financial situation. If you have an upside down mortgage and cannot afford to keep making the mortgage payments of the home, then a real estate short sale may be for you. To determine if a real estate short sale if for you, read the article on When a Short Sale is right for you.

Is there a time of year when a real estate short sale is not plausible?

No. A real estate short sale works all year round. There are, however, some months that a real estate short sale may be more successful than others. For example, when banks are getting ready to do their books and they happen to have many bad loans on their books, they may be more inclined to accept a real estate short sale at the time. Banks have to show their books to their shareholders quarterly and they usually be more inclined to accept a real estate short sale then.

The bank won't accept my real estate short sale because the property value is appreciating?

Some real estate investors doing a real estate short sale for the first time may wonder if the property they are trying to do a real estate short sale on is appreciating, the bank may want to take a chance in the foreclosure process and sheriff's sale. Don't sell yourself short! If you can convince the bank well enough that accepting your real estate short sale will be better for them in the long run, the bank will accept your real estate short sale.

On this Real Estate Short Sale website, we have armed you with many bullets to convince the bank with - use them. There are many reasons why banks should always accept a reasonable real estate short sale. For example, banks wouldn't want to tie up the reserves for a long period of time especially if you indicate that the homeowner may need to file bankruptcy should the real estate short sale fails.

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