The Advani Real Estate Group is the leading provider of short sales to buyers. Combined with our own inventory of short sales as well as numerous lender and bank representatives we have many properties that are not available to the general public.
Short Sales have quickly become a very valuable option for many sellers.
Selling your property as a Short Sale
There are numerous questions you may have when it comes to selling your home as a “short sale”. First and foremost, a short sale refers to a property with a mortgage, where the mortgage amount exceeds the proceeds from it’s sale. Because the real estate market has been hit so dramatically over the past several years, many sellers are in the position where they must “short sell” their home because they no longer have any equity in the property. There are a number of advantages and disadvantages both when it comes to short sales. As with any major financial decision, the decision is ultimately yours, but your consultant at the Advani Real Estate Group can assist you in making an informed decision.
1) Mortgage Debt is forgiven by your lender and IRS (if the property is owner occupied)
2) Save your Credit
3) Avoid Foreclosure!
1) May have tax implications
2) The bank may not approve the short sale
3) There is some impact on your credit
Items that your lender will require:
- 2 months’ recent bank statements
- 2 months’ most recent pay stubs or W-2’s
- 2 years’ tax returns
- Monthly Payments
- Most current mortgage statement for all liens
- 3rd party authorization on behalf of the Advani Real Estate Group
- Fully executed listing agreement and short sale addendum
You may fax all of the required paperwork to (619)255-7693 attention ‘Short Sale Division’.