A short sale means the homeowner owes more money on the property than the current market value.  Usually, the homeowner has gone through some major challenges like job loss or multiple medical expenses and are being forced into selling.

Does ”short sale”  mean that it will be a “quick” sale?  Fiction -  On the contrary, usually the short sale process can take up to 4-6 months from start to finish.

The price listed on the MLS is what the property will be sold for. – Fiction – Typically, the price listed on the MLS is the starting point to open up negoitations with the bank.  The bank will not start the short sale process until there is an offer sent to their office.

Using an experienced Realtor through the process can save you time and money – Fact – Hire a Realtor who has expertise in processing short sales.  They are tricky and there are definite steps to take.  You don’t want to use an agent who has not done a short sale that will only be a learning experience for you and them and usually the seller doesn’t have time to mess around with a learning curve.

If you have specific questions about buyer or selling, please send them to me and I’ll be happy to answer them.