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How to Navigate a Short Sale

Jennie Phipps foxbusiness.com
How to Navigate a Short Sale - Seller's Guide - United States - Real Estate - Short Sales


This spring, real estate sales began picking up in many U.S. markets as buyers snatched up homes at depressed price levels. But not all sales have been proceeding smoothly. As a rule, sales involving foreclosures and short sales take longer than usual to close because of their inherent complexity.



Still, they represent a significant portion of sales activity. In February, these transactions made up 45 percent to 50 percent of all sales, sometimes more in parts of the country where the foreclosure rates were particularly high, according to the National Association of Realtors.

How can you get in on a good short-sale deal? It takes a certain amount of fortitude and patience, plus a lot of luck.

What's a short sale?
Selling a home for less than the amount the current owner owes the mortgage company is called a short sale.

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