One of the questions we are most frequently asked is "What is a short sale?". A short sale is a real estate transaction involving a property that is still owned by the homeowner, but on which the outstanding mortgage amount is greater than the net proceeds that can be squeezed from the current market. In other words, the bank will not be paid in full. Though the homeowner has the right to list the property for sale and accept offers on it, any contract must be approved by the bank holding the mortgage. For a seller, a successfully executed short sale can mean the avoidance of foreclosure. From the point of view of a patient buyer, a short sale can be a way to buy a home for slightly less than market value.

Want to know more about how a short sale works from either the buyer's or seller's perspective? Give us a call. Several members of The Kable Team are Certified Default Resolution Specialists and can more thoroughly explain how a short sale could benefit you.