Short Sale is a different type of negotiation in a real estate transaction and is not a part of real estate basic training. It is a detailed but fairly straightforward process that can work to benefit a Seller, Buyer and even the Lender.

Short Sale is a workout option (Loss Mitigation) used when a homeowner is unable to continue their financial obligation to the note, and the equity on the property is too low to sell or refinance for the balance or the mortgage loan.

A Short Sale is when a lender accepts a discount on a mortgage to avoid possible foreclosure auction or bankruptcy.  Instead of buying from the homeowner, the property is purchased directly from the lender for a discount.  Short Sales come about when property owners become "upside down" due to a hardship (because of a job loss, divorce, health issues or an option ARM that's resetting higher AND they have depleted (or never had) significant assets) - and when the property value is less than what the homeowner owes.  In these situation, lenders are sometimes wiling to accept less than the full amount due, commonly referred to a "Short Sale" or "Short Pay"

Why should you consider my services?

Your home is typically the greatest asset in your portfolio. When it comes to selling, everyone has a friend or family member in the business who is more then willing to represent you whether you are in their market area or not.

The question is:

Would you entrust your greatest asset to a specialized professional at Harry Norman Realtors, or a friend of a friend who may not have the experience to handle a short sale transaction?

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