Short Sales: Things You Should Know Before You Start

Short Sale

In a short sale, the servicer allows the homeowner to list and sell the mortgaged property and agrees to accept the net proceeds from the sale even if the proceeds are less than the total amount due on the mortgage.

It doesn’t cost you anything to short sell your home

The services of a Realtor to list your home and negotiate the short sale with your lender is free to you. You do not pay for repairs to the home or any of the incidentals associated with selling your home.

All costs associated with the sale are paid from the proceeds of the sale of the home. When the lender approves the sale they are also approving what’s known as a HUD 1 or estimated sellers net proceeds from sale document. This document is a list of all costs of sale.

If you have questions about short sales please call us today at 813-441-0400 and ask for one of our Certified Short Sale Experts. Homeward Real Estate only hires experienced Realtors knowledgeable about the Tampa real estate market.