What is a short sale?

Asking the bank to accept less than the amount that is actually due and to release the mortgage.

Why would a bank accept a short sale?

Foreclosure is expensive – the bank can limit its losses by granting the short sale process.

Is a short sale better for me than a foreclosure?

Yes. During the negotiations of the short sale, your representative can work on your behalf to require the bank to forgive the deficiency. In a foreclosure, you are legally responsible for any deficiency for up to 20 years according to NH law.

How do I determine if I should request a short sale?

The first step is to meet with a Realtor experience in short sales for a Broker Price Opinion. All banks will require a BPO in a short sale negotiation. A qualified Realtor can also guide you through the process by helping you gather the financial documentation required by your lender to apply for a short sale.

When should I contact a Realtor®?

It is never too late to contact a Realtor. However, the sooner you contact us the easier it is to help you. You should call a Realtor as soon as you are experience financial distress.

Should I contact my lender?

The bank will not start looking at a short sale application until your mortgage is in default; your home is listed in MLS and you have an accepted purchase and sales contract.

Do I need legal representation?

Yes. A Realtor experience in short sales normally works closely with an attorney to protect your interests in the process

The Agents at Team DeSantis not only have the education to assist you in the short sale process
but they have experience and a trained legal team at your disposal.

Don’t delay – call us today!
The sooner you call us, the quicker we can help you resolve your problems and relieve your stress!