Events happen and many homeowners are in the difficult situation of needing relief. An option for relief can be found by way of a short sale, where a homeowner sells his real property for less than he owes on it.

A short sale occurs when a bank agrees to accept an offer on a home that is less than the remaining balance on its mortgage. An excellent alternative to foreclosure, a short sale can be utilized as long as there is real property that is “underwater” (worth less than what is owed) and a demonstrable financial hardship of the owner.

Short sales allow homeowners to avoid some of the damage a foreclosure would do to their credit report and avoid taking financial responsibility when they owe more than their home is worth. Banks will consider a short sale because it allows them to recoup some of their investment without the work of selling the home themselves.

If you are in a situation that requires you to sell your home for less than you owe, let Nathan Harris effectively represent you and your Real Estate Broker negotiate with the lenders.

Call Nathan at (253) 370-2603 for a consultation.

WA Short Sale Links