"Chris" Rita Quackenbush
1567 Haley Lane #205
Ft Myers, FL 33907

239-823-2980
Chris@QTeamRealEstate.com
 
The Q Team gets the job done fast. 

Searching for real estate in Southwest Florida including Ft Myers Naples Bonita Springs and Estero? Call the Gulf and Golf specialist, Chris Quackenbush at 239-823-2980, or email Chris@QTeamRealEstate.com  for experienced guidance on Short Sales.


SHORT SALE, a GENERAL DEFINITION:  a 3 party agreement to sell real estate between a seller, buyer and the lender at a price lower than the amount owed to the lender.  The seller walks away with nothing and the lender agrees to take less than the seller owes. 

Short sales became popular recently as home prices declined significantly, and many owners owed more than the properties were worth to a willing buyer on the market.  Recognizing that foreclosures are expensive and time consuming to lenders, they began working with sellers to move the properties more quickly and efficiently.  The buyers have the advantage of lower price than the prevailing market, but the purchase is generally more time consuming and less certain than a normal, two party sale.

Sellers/ banks may accept more than one offer and can force a bidding war at the end.  Lenders can simply not respond or delay their response for months while buyers and sellers are left in limbo.