Short Selling Your Las Vegas Home?

Linda can help get your home SOLD!

You walk away and pay NOTHING out of pocket! In order to qualify for a short sale, the seller must prove to the bank one or more of the following conditions:

  • Loss of job, and difficulty in finding new suitable job
  • Job Relocation, when equity is deficient
  • High medical expenses due to disability, injury or illness
  • Divorce
  • Unable to afford the loan from the beginning
  • House needs unexpected major repairs
  • Overextended Credit
  • Changing Economy
  • Adjustment in mortgage payment due to interest rate

Short Sale Homes in Las Vegas

Steps for a Short Sale of a House

A short sale takes place when a home owner owes more on their property than it is currently worth. The borrower must prove to their lender that they can no longer afford to pay their mortgage and in turn they will be forgiven of the debt. The lender agrees to accept a discounted payoff on the loan in order to avoid a costly foreclosure. Our service is at absolutely no cost to you!!

Frequently Asked Questions

If you owe more on your property than what it’s worth, Contact us today! A short sale could be the answer you’ve been looking for. Short selling allows you to walk away from a property regardless of what is owed to the lender – all without a foreclosure. The short sale process can satisfy additional liens on your property (tax liens, 2nd loans, judgments etc.).
A short sale occurs when the seller owes more on the house then what its worth. To help you understand how a short sale would relate to, or differ from, a foreclosure, it may be helpful to point out that short sales can also be referred to as “pre-foreclosure sale” which, as the name implies, precedes the home being officially repossessed or foreclosed on by the lender. That is, the property is sold much earlier than the months it typically takes to reach foreclosure, allowing all parties to move on from the transaction sooner.
There are still negative ramifications for short sales, even if it is less damaging than those associated with foreclosures and/or bankruptcy. A short sale homeowner’s credit will still be adversely affected by settling with the lender. According to an article by Elizabeth Weintraub on, the effects on credit are about the same for short sale and foreclosure and could drop a sellers overall score by as much as 200-300 points. However, short sales do carry less negative effects than foreclosures. Short sale sellers are seen as less risky borrowers than foreclosed sellers. Case in point, Fannie Mae recently adjusted their guidelines to dictate only a two year waiting period for a short sale seller to buy another primary residence, while they extended the waiting period for foreclosures to five years. (Fannie Mae Guidelines.)

If you owe more than your house is worth, and are in financial distress, ( i.e.….job loss, divorce, option-arm mortgage, etc) – you can qualify!

Absolutely! You will not have to move out until the close of escrow. In fact, even if you have a sales date on the property, in the event that we are in negotiation with the bank, all foreclosure proceedings will be postponed until further notice.

No, the short sale can post-pone the sales date to give us time for negotiation. Even if you only have a few weeks until your sales date, its not too late, but you must hurry and get all documents ready so that we can put in a request to post-pone the sales date. Each situation is different so please hurry call us so we can figure out a strategy to make this work
Short sales can be a win-win for both parties. For the seller, a short sale provides the opportunity to avoid foreclosure and the dreaded implications that a foreclosure brings, alternately, the lender receives most of the value of the loan sooner, and avoids incurring additional legal or carrying costs while the foreclosure process plays out, which can sometimes even take years.

Have More Questions About Short Sales?

Contact Us Today!