Q. What is a Short Sale?
A. A Short Sale is a contract whereby the bank or mortgage company agrees to accept less than the owner owes.
"SHORT SALE" has become "short hand" for the description of a house that an owner needs to sell, has tried to sell and is unable to sell.

Q. Can any home be sold as a Short Sale?
A. NO. The bank must agree to any Short Sale. The owner must meet certain criteria for need.

Q. Are Short Sales listed in the MLS along with other homes for sale?
A. Yes. Short Sales are fully available in the MLS and Homesdatabase.com

Q. Are all Short Sales identified in the listing?
A. NO. Short Sales are not always identified in the listing.

Q. Can any seller sell their home as a Short Sale?
A. NO. THE SELLER WILL HAVE TO BE APPROVED by the bank or mortgage company.

Q. Are Short Sales selling?
A. If they are priced right and if the contract is not below the bank or mortgage company's "bottom line".

Q. What happens with a Short Sale listing that does not sell?
A. Many will go to foreclosure. Many owners will find help and cure the default. Banks are offering "work out" schedules to avoid foreclosure.

Homefinders network of brokers and agents are experienced and will manage your short sale needs. Make sure that any buyers pre-approved. If the buyer is pre-approved, the contract is completely in order with all addenda, disclosures and notices completed when the contract is presented, the mortgage company or bank will be much more receptive. If and when the bank counters the offer and presents additional documents for the buyer to accept and sign, do it quickly.