What is a Short Sale?
A short sale is a sale of property in which the proceeds from the sale fall short of the balance owed on the loan or loans secured by the property sold. In a short sale, the bank or mortgage lender agrees todiscount a loan balance due to an economic or financial hardship on the part of the property owner in exchange for the sale of the property to a third party. A short sale is typically executed to prevent a foreclosure.
It is the sale of a home when the sale proceeds do not fully pay off the existing loan(s) and the lender(s) accept a discounted payoff to satisfy the loan(s). Lender negotiations are critical and require the expertise, experience and strong working relationships with mortgage companies and banks that are provided by short sale agents such as the I Short Sale agents.
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Testimonials
"Dear Brenda, Thank you SO much for making this short sale smoother than many of the market sales we have! You were fantastic and helped all of us relax knowing everything was being handled. You were always available and easy to reach and you got back to us in record time. Please let me know if Paul & I can write an official testimonial for you as we would be happy to do so. We will let our colleagues at Village Properties know how impressed we are with I Short Sales's services."
Best regards, B.M - Santa Barbara, CA
"Hi Brenda, I just wanted to say a great big thank you for all of your help. We just closed our 6th short sale in the past two years!!! Five of those were completed with you and I just wish I had completed the 6th one with you too, since we didn't get cleared of the 2nd mortgage for $30,000.I really appreciate all your help and I can't tell you how relieved I am to finally have these all off of my shoulders. If you need any kind of testimonial letter, I would be happy to write it. Really, please know that your help has made a huge difference in our lives!!"
J.D. - Cape Coral
"....I was in Foreclosure and my house was in auction to sell but Sona was able to postpone my sale date on the last minute and it gave us time to try to save my home. I really appreciate what she has done and I have referred my friends to her and will keep doing so. Sona and her team were very helpful and knowledgeable about this manner."
Thank you, L.S. - Lancaster, CA
"A parting email to thank each and everyone of you for your assistance in the short sale of my property. It was smooth, and relatively easy transaction. I found your customer service manner comforting and reassuring in difficult times like these. So thank you very much ...and I hope we will not need to have a professional relationship again!"
All the best, M.R. - Santa Barbara, CA
Short Sale - FAQ
- Is there any cost to me to do a Short Sale?
- A. Absolutely not. All closing costs are offset by your lender.
- How do I qualify for a Short Sale?
- A. As the borrower on the property, you must demonstrate true hardship.
- If I do not live in the property, do I still meet the requirements for a short sale?
- A. Yes. Non-owner-occupied properties do qualify for a short sale.
- I'm late on my mortgage and may be facing foreclosure, what do I do?
- A. The first step is to contact us and speak with one of our agents. I Short Sale can, and will, assist you in understanding all of your options to avoid foreclosure. You're not alone. Many distressed homeowners don't know what to do, give up, and do nothing. That's the worst thing you can do! You have other options. Let I Short Sale assist you in understanding your options and negotiate with your lender on your behalf.
I Short Sale is proud to be a part of the
PEAK CORPORATE NETWORK
PEAK CORPORATE NETWORK
Short sales nationwide including:
San Diego, California. Miami, Florida. Phoenix, Arizona. New York, New York. Santa Monica, California.. Thousand Oaks, California. Agoura Hills, California.
Sherman Oaks, California. Studio City, California. Encino, California. Tarzana, California. Malibu, California. Beverly Hills, California. San Francisco, California. Tampa, Florida.
San Jose, California. Oxnard, California. Culver City, California. Seattle, Washington. Philadelphia. New Jersey.
Loan modifications and third party short sale negotiations are not available in Nevada.
"All services provided by I Short Sale are contingent on a number of factors, including but not limited to, conditions of both the real estate and financial markets, specific requirements of potential buyers, specific requirements/conditions of financial institutions, loan servicers and title companies. There is no guarantee that any lender or loan servicer will approve a short sale, or any type of cash or other incentive if a short sale is approved."
The information contained in this website is intended to be used for informational purposes only and to provide a general overview of the topics described herein. There may be tax and other legal consequences associated with a short sale. I SHORT SALE makes no representations or warranties concerning potential tax or legal consequences relating to any final disposition of any property. Clients are advised to consult with a tax professional regarding the potential tax consequences for their particular situation. I SHORT SALE is providing a service in response to a complex situation and offers a recommended solution where possible. Nothing is represented as tax advice to our clients as every situation may result in different tax consequences. I SHORT SALE is not a law firm or an accounting firm and regarding any specific questions relative to any transaction, I SHORT SALE strongly encourages all parties, agents, and brokers involved in a transaction to seek such advice from a professional advisor. Legal Statement. Read here our Privacy Policy.
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