What is a Short Sale in Real Estate? Avoid Foreclosure?

What Is A Short Sale In Real Estate is a common question. What is the difference between foreclosure vs short sale? A real estate short sale is when the money earned from selling a property is less than the debts accrued from purchasing the property.

This occurs when the property depreciates over time and the owner must sell the property.

The country saw the biggest spike in short sales during the 2006 economic recession when property prices dropped. We are now about to see some of the largest number of short sales in real estate after this foreclosure memorandum is lifted!

Homeowners, who were impacted by the virus of 2019 and resting safe behind a forebearance plan, and suffered financial hardships and had to sell their homes because they could not afford the mortgage rate.

When homeowners sell their property at a lower price than what they owe the lender, the transaction is called a SHORT SALE in real estate.

This creates problems between homeowners and their mortgage loan lenders, such as banks.

Depending on the situation, the debts unpaid are forgiven. Banks base their forgiveness decision on the property owners' current financial status.

If there's no way they can repay the money, often times the bank will forgive the property owner. But, this isn't always the case.

Short sales will mean you don't earn back all the money you spent on purchasing a property. When this happens, it's often a sign of devalued property.

I’m Rob Lam, “The Stop Foreclosure Ninja.” I’ve been an uber-successful real estate investor in Florida since 2006. My team and I have dominated the short sale market in Florida for almost 20 years.

If you are a homeowner and getting behind on your payments and thinking if a short sale is a right for you, call our team at (904) 881-8265. There may be other solutions instead to stop the foreclosure and/or put CASH in your pocket instead!

Visit http://www.AvoidForeclosureSolutions.com

If you are a real estate investor and would like to profit from short sales, reach out to me as well. My team can help you and even teach you the in's and out's!

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