What is a Short Sale? A Short sale is a sale of real estate in which the sale price falls short of the balance owed on a loan or loans secured by the property. In a short sale, the bank or mortgage lender agrees to discount the loan balance due to an economic or financial hardship on the part of the homeowner. This negotiation can take months and can be very difficult without proper guidance and professional help. At the Jacksonville Short Sale Team, we work with your bank' to make the process fast and easy.

When the home owner sells the property for less than the outstanding balance of the loan(s), and turns over the all proceeds of the sale to the lender, sometimes (but not always) this satisfies all remaining debt to the lender or bank. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower's financial situation. The Jacksonville Short Sale Team will negotiate with your lender all while protecting your rights.

What is Required for a Real Estate Short Sale?

In order for us to get a real estate short sale accepted for you, we first must list your home for sale. During the listing period, you will need to provide the following documents to us so that we may package a real estate short sale request to your existing mortgage lenders. link

Documents required for Real Estate Short Sale

	Last two years tax returns and any tax schedules
	Most recent month of paystubs
	Most recent two months of bank statements for savings/checking accounts
	Current mortgage payment coupons/statement for existing mortgages

With these documents we create a package as to why you require a real estate short sale and submit this to the appropriate department at your lender, once we have an accepted purchase offer for your home.

Who can Qualify for a Real Estate Short Sale?

Typically, the mortgage lenders will only accept a real estate short sale if you are at least one month behind on your mortgage payments, have a ready and willing buyer and you are unable to debt service all of your existing liabilities. Also, if you financial situation has changed and you are currently making less money than before and you have no more savings, you most likely qualify for a real estate short sale. This is the reason why we need to above documents to paint a clear financial picture of your current situation.

Would a Real Estate Short Sale Benefit You?

If you owe more than you home is worth you need to sell your home, please contact us regarding our short sale services. Contact us via email with any questions regarding a Jacksonville short sale or by phone at: (904) 312-5255

For more information on how a short sale could benefit you please call Jacksonville Short Sale Team at (904) 312-5255 for a FREE consultation. That is (904) 312-5255 for a free consultation on how a short sale can help solve your mortgage problems.