Foreclosures in Florida Information

Short Sales Explained

Short sales occur when a property owner owes more on a mortgage or multiple mortgages than what the property is worth. This means that the short sale lender or lenders have to approve a "short payoff" to release their lien and allow the property to be sold to a different owner.

When a short sale listing says that the "sale is subject to third party approval", it means that the lender, and quite often the investors who own the note, must approve the price and terms of the sale.

For more information about short sales, visit our page: "What is a Short Sale? Short Sales Defined" . 

We're here to help! Whether you need assistance selling a property as a short sale, or if you're a buyer seeking to purchase a short sale or foreclosure, you're welcome to call Scott at 561-573-1828 or contact me through this link for a no-obligation consultation.  I'm always easy to reach by phone, text and email. 
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