When a seller decides to sell their property and accept less than the amount owed on the mortgage as a full payoff of the outstanding balance, we refer to it as a short sale. These transactions became very popular right after the downturn of the housing market and are still quite common today—especially in Florida.
While the mortgage lender benefits from short sales because they can accept funds on a delinquent mortgage without going through the foreclosure process, homeowners also benefit because they can avoid foreclosure and, usually, deficiency judgment. With such important benefits at stake, it is vital for both buyers and sellers to work with industry professionals who understand the process, and can represent them from beginning to end.
At RP Title, our attorney-owned status allows us to guide you through all stages of a short sale—on both the legal side and title side. Over the years our attorneys have overseen thousands of successful short sale closings. In our local office, we have a dedicated short sale-exclusive team that closes hundreds of transactions a month, and they would love the opportunity to speak with you.
If you have any questions regarding the short sale process or legal representation involving short sales, please call our office to discuss your specific situation with either a representative from our short sale team or one of our licensed real estate attorneys, free of charge.