2. Short Sale or Traditional Sale

Short Sale or Traditional Sale

A short sale is when you successfully sell your home to another buyer, even though you owe more on your mortgage than what your home is worth. This occurs when your lender forgives the higher owed balance on your mortgage and therefore absorbs a loss by discounting the principle balance.

For example, if you owe $550,000 on your mortgage, but end up in a situation where your home will only sell for a maximum of $475,000, then your lender(s) will compensate this sale by discounting $75,000 to make it happen. This is accounting for a large percentage of Orange County Homes on the market today and there is no reason why you can’t do the same.  For more details click here.

We have worked with a countless of number of successful short sale negotiations and build great relationships with the lenders we work with.