Short Sale

Short Sale – A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. The downside to a short sale is that it takes time to sell a home even at a bargain in such a defunct housing market. There are foreclosures on every block, housing prices are rock bottom, and selling a short sale property sometimes can be difficult and can leave you with tax obligations. The entire time the home is on the market you are still responsible for your mortgage payment, taxes, and insurance.

You can find out more about Short Sales by going to our Frequently Asked Questions page.