An Honest Look at Value
I will research what your home is really worth today, what the lender will likely accept, and what you can realistically expect from the process.
The Militello Team · Kathleen Militello, Realtor® · eXp Realty
Selling Your Home as a Short Sale
If you owe more on your home than it is worth and you need to sell, a short sale may be an option. It can be a stressful situation, but you do not have to figure it out alone.
I will walk you through what a short sale really involves, what the lender needs, and whether it makes sense for your situation, one step at a time.
The situation
What Is a Short Sale?
A short sale happens when a homeowner sells a home for less than the remaining mortgage balance, and the lender agrees to accept the sale proceeds as payment in full for the loan. The lender forgives, or shorts, the difference.
Because the lender must approve the price, the terms, and the buyer before closing, a short sale works differently from a traditional sale. That approval process is where an experienced local agent earns their keep, and it is why having someone who has done this before matters.
A short sale is usually considered when a home is underwater, meaning it is worth less than what is owed, and the homeowner cannot bring the difference to the closing table. It is one way to sell a home you can no longer afford to keep, without the full consequences of a foreclosure.
Who it fits
Who This Can Help
A short sale may be worth exploring if you relate to any of the following situations:
- Homeowners who owe more on the mortgage than the home is currently worth.
- Homeowners facing financial difficulty, such as a job change, medical bills, or another hardship.
- Households behind on payments who want to avoid a foreclosure on their record.
- Homeowners who need to move and cannot bring money to the closing table.
- Anyone who wants to understand what a short sale would mean for their credit and their next steps before deciding.
How Kathleen helps
How Kathleen Helps
I listen first, tell you what I really think, and work to protect your interests through every step of the process.
Clear Lender Coordination
A short sale only happens with lender approval of the price and terms. I work through that process, keep the timeline moving, and keep you informed at each step.
Protecting Your Interests
My job is to protect your interests: realistic pricing, complete paperwork, and communication that leaves you knowing exactly what is happening and why.
Local North Shore Knowledge
More than two decades on Boston’s Coastal North Shore means I know your town, your market, and what buyers and lenders in this area actually look for.
A note of honesty: a short sale still has consequences. It can affect your credit, and in some situations a lender may pursue the remaining balance, so the details should be reviewed with a real estate attorney and a tax professional before you commit. I will help you understand what to ask them.
Let’s look at your options
Schedule a Consultation
Every situation is different, and there is no one-size-fits-all answer. Let’s talk about what makes sense for you in a confidential, no-pressure conversation.
Kathleen Militello, Realtor® with eXp Realty · MA Salesperson License #9053343 · Equal Housing Opportunity. This page is informational and is not legal or tax advice.