A “Short Sale” is usually done to save a home from foreclosure. It’s a situation where the asking price in a home sale is less than the amount the owner owes on the home. The term “short sale” just means that the payoff to the bank is “short” of the amount needed to pay off the loan in full. The good news for sellers is that the bank usually forgives the unpaid balance (the “short” amount). The seller may walk away owing nothing to the bank and avoid a foreclosure on their credit. There is no up-front cost for a Short Sale and the bank normally pays for all fees and commissions associated with the transaction. There really isn't any reason not to at least try. If you or someone you know is in trouble with a mortgage, call Team Assist 2 Sell to see if a short sale is right for you. Our agents are short sale experts and we can help buyers and sellers through the process creating a win-win for both. Call today!