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    What is a short sale?

    What is a short sale?

    A short sale is when a homeowner sells their home for less than the balance they owe on their loan.  A short sale is something that was relatively unknown prior to the real estate bubble bursting in 2008 but has become a common alternative to foreclosure since then.  The homeowners lender must agree to permit a short sale and subsequently approve the price and terms the home is being sold for, however  most lenders today have systems in place to work with borrowers needing to do a short sale.

    Who qualifies to do a short sale?

    Homeowners that are "underwater" or in a "negative-equity" position, meaning they owe more on their home than it is currently worth and are in a position where they need to sell their home are good candidates for a short sale.  Since the homeowner's lender is going to be asked to permit the home to be resold without receiving payment in full on the existing mortgage, the borrower will need to prove to the lender that the financial resources necessary to pay the shortfall is not available. and that a financial hardship exists.

    What should a homeowner do to explore the possibility of selling their home as a short sale?

    The first step would be to determine what the home is worth in the current market and what expenses would be involved in preparing the home for market and selling it to see, if in fact, the owner is underwater and, if so, to what extent.  This is where we come in and can help you.  At MORE, REALTORS®, our brokers and agents have helped homeowners with millions of dollars of short sales and have the experience and knowledge to help guide you every step of the way with care and professionalism at every step.  We know this is an emotional and stressful time for homeowners and we do everything in our power to make the best of a bad situation for them.

    We would love to have the opportunity to help you.  For a private, free consultation, please call us at 314.332.1010, use our live chat in the bottom right corner to chat with us or click the button below to contact us.

     

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    St. Louis Short Sale Help For Buyers and Sellers

    • FHA Back To Work Program - Help for people that were forced to do a short sale or lost their home in foreclosure due to loss of a job and now are back to work and wish to buy a home.
    • What is a Short Sale? - What a short sale is as well as when a homeowner should consider selling their home using a short sale.
    • How to Buy a Short Sale - A short sale, when completed properly, can be a great investment for an informed purchaser but there are pitfalls to watch out for.
    • Foreclosure vs Short Sale - A short video by Short Sale Center LLC of St Louis explaining the differences to a homeowner between a foreclosure and a short sale.  A MUST see for any homeowner facing the risk of losing their home to foreclosure!

    St. Louis Short Sales by County

    • Franklin County Short Sales
    • Jefferson County Short Sales
    • St. Charles County Short Sales
    • St. Louis City Short Sales
    • St. Louis County Short Sales

    St. Louis Short Sales By City

    • Affton Short Sales
    • Arnold Short Sales
    • Ballwin Short Sales
    • Brentwood Short Sales
    • Bridgeton Short Sales
    • Chesterfield Short Sales
    • Clarkson Valley Short Sales
    • Clayton Short Sales
    • Crestwood Short Sales
    • Creve Coeur Short Sales
    • Dardenne Prairie Short Sales
    • Des Peres Short Sales
    • Ellisville Short Sales
    • Eureka Short Sales
    • Fenton Short Sales
    • Ferguson Short Sales
    • Florissant Short Sales
    • Frontenac Short Sales
    • Glendale Short Sales
    • Gray Summit Short Sales
    • Green Park Short Sales
    • Grover Short Sales
    • Hazelwood Short Sales
    • Huntleigh Short Sales
    • Kirkwood Short Sales
    • Ladue Short Sales
    • Lake St Louis Short Sales
    • LeMay Short Sales
    • Manchester Short Sales
    • Maplewood Short Sales
    • Maryland Heights Short Sales
    • Mehlville Short Sales
    • O Fallon Short Sales
    • Oakland Short Sales
    • Oakville Short Sales
    • Olivette Short Sales
    • Richmond Heights Short Sales
    • Shrewsbury Short Sales
    • St Albans Short Sales
    • St Charles Short Sales
    • St Louis Short Sales
    • St Peters Short Sales
    • Sunset Hills Short Sales
    • Town and Country Short Sales
    • University City Short Sales
    • Warson Woods Short Sales
    • Washington Short Sales
    • Webster Groves Short Sales
    • Weldon Spring Short Sales
    • Wentzville Short Sales
    • Westwood Short Sales
    • Wildwood Short Sales
    • Winchester Short Sales

    St. Louis Short Sales by Property Type

    • Condos
    • Homes
    • Multi-families

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    100 Chesterfield Business Parkway
    Suite 200
    Chesterfield, MO  63005
    314.332.1010

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