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What is a Short Sale?

Sell For Less Than Owed

Are you looking for a short sale definition? In the simplest terms, it means selling your property for less than the loan amount owed. When the homeowner and a buyer agree to a price less than the mortgage amount, sometimes a bank will release the property for the lower amount. The reason a lender would take less is because it helps all main parties involved - the seller, the buyer and the lender. If you own Branson real estate or Table Rock Lake real estate and you're considering foreclosure, please think about the possibility of a short sale.

Many people wonder why a lender would take less for property than what is owed? Simply put, foreclosure is expensive. Lenders are in the habit of lending money, not being landlords. Despite some homeowners misconceptions, the bank does not want your home. By doing a short sale you can alleviate the stress and burden of a foreclosure. While it's true that doing a short sale will most often show up as a negative mark on your credit score, it's not nearly as damaging today as a foreclosure. What makes a short sale difficult is often the timing. There is a certain window of opportunity for doing a short sale. That's why it's important to find the right Realtor who has the connections in the banking industry, as well as a knowledge of how short sales are handled.

Short Sale Specialist

I'm Charlie Gerken and I've been helping buyers and sellers with short sales when it comes to Branson real estate and Table Rock Lake real estate. If you're considering buying or selling a short sale home, please contact me for more information. There's no cost and no obligation to confidentially examine your situation. Get started by contacting me today.


Property Averages

Averages based on current search criteria as of 11/27/2021 8:58 AM

Listings
1
Build Age
19Y
Sales Price
$99K
Beds
4
Baths
3
Listings
1
Build Age
19Y
Sales Price
$99K
Beds
4
Baths
3

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40 Photos 207 West 23rd Street Galena, KS 66739

207 West 23rd Street
Galena, KS 66739
N/a
Residential

MLS# 60198239 / Active
4 br, 3 ba, 2356 Sqft
Type: Modular

Beautiful country Setting on the Southwest side of Galena, KS. 4 Bedrooms, 3 baths with carport and storage. Nice covered front porch. Open floor p... 

More Details

$99,000

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