Vincent, What's a Shortsale?

By
Real Estate Sales Representative with Prudential Douglas Elliman Licensed Real Estate Salesperson

This is probably one of the most common questions these days so I'm going to take this opportunity to give you a brief overview of what the term shortsale means.

Short Sale (Short Sell, Short Pay, Pre Foreclosure Sale,).
Explanation: Short Sale is a Real Estate Sales Transaction where the proceeds of the sale fall short of the property owner's unresolved real estate money owing obligations (mortgage loans, real estate dues, commissions, etc.).

A lender may be in agreement to modify the amount to be paid on the mortgage and accept less than a full payment, by selling the property to a third party, and pardon the balance, if the seller is in financial hardship.

If you know of anyone in the NYC area that is in need of a detailed analysis of their property to determine if they are a candidate for short sale marketing please contact me directly at 646-294-2561 or email me at ProRealtor@verizon.net

Vincent Martinez Realtor

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

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Vicente A. Martinez

Realtor, Brooklyn - Long Island - Queens Homes
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