Short Sale Overview in Today's Market

Many Home Owners in today's market have little or no equity, that is, the Home Owner owes at close to or more than the property is worth. In these situations, lenders are often willing to accept less than the full amount due, commonly referred to a short pay or Short Sale.

Many folks who are upside down on their mortgage opt to simply walk away from their home, and allow it to foreclose. The Short Sale offers a much better option and provides a win-win for the lender and the Home Owner.

From the lender's perspective, a Short Sale saves many of the high costs associated with the foreclosure process, attorney fee's, the eviction process, delays from borrower bankruptcy, damage to the property, costs associated with resale, etc. In a Short Sale scenario, the lender gets their money faster and is able to cut its losses.

Once approved for a Short Sale, the lender will order an appraisal (BPO) of the property to determine the market value. Once the value is determined, the lender will allow Quantex Properties LLC to negotiate the purchase.

The bottom line is... If your home is worth less than you owe, you can still sell it via a Short Sale without bringing any money to closing!