What is a short sale?

A short sale is a way to sell the property, but oftentimes when you sell a property, everyone thinks there’s equity in the property, and you’ll be able to make money on the sale. A short sale is when the property is leveraged, or has mortgages above the fair market value, so that the banks or bank have to take a short on the amount of money that they’re receiving. That’s our job. Our job is to come in and try and negotiate those loans down to fair market value, so that our clients through this short sale process are able to walk away with as little financial ramifications against them as possible.