A short sale occurs when the outstanding obligations (loans) against a property are greater than what the property can be sold for. Short sales allow homeowners to avoid foreclosure on their homes by settling with the lender for an amount less than what is currently owed on the property. Both seller and lender approval is required to successfully complete a short sale.
The Matt Luke Home Team has a high rate of closing short sales and has established relationships with third parties to help expedite the process. These relationships help increase communication with the lender and expedite the progress of these typically slow moving transactions. The Matt Luke Home Team specializes in guiding homeowners through this difficult process with frequent communication with all parties involved and negotiation with the lender toward a final resolution.
Oftentimes, the differences between a short sale and a foreclosure are confused. To learn about the advantages and disadvantages of each, you can review the information below. Please feel free to contact our office for further clarification.