Short Sale - Hafer Real Estate Group

There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrow cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency. The borrower may have the deficiency forgiven by the lender.

Why is it to your advantage to do a short sale?

First and foremost, it relieves the stress of being in foreclosure and being hounded by the mortgage lender; and it allows you to get rid of your big mortgage payment and move on with your life. A short sale allows you to stop the foreclosure and get a fresh start. This is the primary benefit to you. A short sale also prevents additional damage to your credit. Having some late payments and a foreclosure filed has already done damage to your credit. However, a completed foreclosure will do much more damage and lower your credit score tremendously. A short sale results in the mortgage actually being paid off, which reflects positively compared to a foreclosure. Also, it is important to note that the short sale does not cost you any money. You can remove this burden for free.

We are Your Short Sale Specialists.

Hafer Real Estate Group helps home owners by working with your lender to negotiate a lower payoff amount in order to price your home below competition to get it sold. And to work with the lender on your behalf to make sure the deficiency is forgiven.

Our agents will also aggressively market your home to attract buyers and oversee the entire sale process of your home. It's not too late, Contact Us today to talk with one of our agents about a short sale. We look forward to working with you and getting you back on the right track.

Hafer Real Estate Group
Your Short Sale Specialist
(304) 596-6010