Many homeowners find themselves in the predicament of owing more on their mortgage than their home will sell for in today's market. A "short sale" is an agreement with the mortgage bank to accept less than the amount due as full satisfaction of the mortgage, thereby allowing a homeowner to sell his home without having to bring "cash to the table." If you are in such a situation, you may be able to sell your property, get rid of your debt and move on with your life without having to go through foreclosure or other financial setback. Call us. We will be happy to discuss your situation and see if we can help. Frequently asked questions: How do I know the value of my property? When you contact us, we will do a Comparative Market Analysis. We can show you homes comparable to your's in square footage and other amenities, how much they were listed for and most importantly HOW MUCH THEY ACTUALLY SOLD FOR!! How do I know if my property will qualify for a short sale? You don't unless you ask. However, picking up the phone and calling your bank will likely do you no good and possibly lead to hours upon hours of frustration trying to get someone at the bank to pick up the phone. Let us help you put together what you need to get their attention and get your short sale approved. What if the short sale isn't approved? Am I required to go forward with a sale? Not if your contract is written properly. Let us help you make sure that if the buyer doesn't perform or the short sale isn't approved you are protected. If the short sale goes through and the bank forgives my debt, are there any tax consequences? Recent changes in the tax code passed by Congress allow certain property owners to avoid paying taxes on the forgiven debt, depending on factors such as whether the property is a primary residence or investment property and your personal financial situation. Why should I call Coastal Living Real Estate Group to handle my short sale? Unlike most real estate brokerages, we are set up to handle your short sale from contract to closing. We will: Analyze your property from the beginning to see if a short sale is your best option List your property and professionally market it to find you a buyer Ensure your contract is written to protect you should the bank accept your offer Ensure your contract is written to protect you should the bank NOT accept your offer Deal with the bank directly for you so you don't have to waste hours of your valuable time on hold waiting for an answer!