A short sale is a real estate transaction in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. Citizens Law Group concentrates in negotiating the mortgage balance on behalf of clients in order to allow a sale for the lesser amount to proceed.
Some things to consider when entering into a short sale:
- Pros and cons to ones credit score.
- What are the Legal and Tax implications of this type of sale.
- What type of mortgage is qualified for a short sale.
- Restrictions some lenders have regarding short sales
- Is a short sale the right decision for you.
- Keep your HOA (Home Owners Association) from blocking a short sale