Short Sales: How To Sell For Less Than You Owe

If you can’t afford your mortgage payments, and you do not have any financial resources, we can negotiate with your lender by making a cash offer to buy your home which will allow you to sell your property to us for less than you owe.

Best of all, we will negotiate to have your mortgage completely eliminated.  In most cases we have being successful with the homeowner walking away without worry of future obligations, minimizing the negative impact to their credit.

This is what’s called a “short sale”.

The Damelecia staff believes in honesty, fairness, and has the experience to help you complete a short sale of your home. There is no cost to you. Read on to find out if this is the right option for you. If so, fill out the form at the end of the page.

Do You Qualify For a Short Sale?

If you currently owe more on your home’s mortgage(s) than your home will currently sell for and you are unable to make your payments, a short sale may be an option for you. In addition, you should be able to answer yes to the following questions:

• Has your home’s value dropped?
• Have you missed payments?
• Have you fallen on hard times? For example: Unemployment, Divorce, Medical emergency / sudden illness, Bankruptcy, Death
• Do you have little or no assets?

 Even if you can’t answer yes to all of these, we may have other solutions available to you. Please contact us for more information.

Steps of A Short Sale

• You will be selling your home to us subject to a short sale with third party approval.
• We will make a cash offer to you and your lender for less than the amount of the mortgage(s). Remember, you MUST have a buyer to complete a short-sale. When you work with us, we are the buyer! You won’t have to list your property or try to find a buyer on your own.
• You will accept the offer.
• The lender will accept the offer.
• The transaction closes. You walk away with your mortgage(s) paid off.

How A Short Sale Affects Your Credit

A short sale may show up on your credit report but experts say the damage is not as bad as a foreclosure. In some cases, your credit rating will remain intact. Every situation is different, but the important thing to remember is the liability of your mortgage will be completely removed and you will NOT have a foreclosure on your credit report.

Why Your Lender Prefers Short Sales Over Foreclosure

Your lender is not in the business of owning and managing real estate. They are in the business of lending money. If the lender forecloses on you, it can be a long and expensive process and they may be stuck with selling the property (which is often in poor condition) for a discounted price. A short sale provides a faster and often less expensive solution to the lender. They are then able to return to what they do best, lend the money which was tied up in your mortgage.

What You Need To Do

Fill out the form below and one of our friendly staff will contact you. We’ll then work with you for free to negotiate with your lender. We’ll make a cash offer to buy your home. Then we’ll help you through the steps of providing your financial information, letter of hardship, preparing your contracts to sell the property, and more. We’ll still need your help, but our goal is to make the short sale process easier for you and a true win-win for everyone.