Miami homes

Short sale in Miami

A real estate agent can help you negotiate with Your Mortgage Lender to Work out favorable Short Sales Terms.

Your mortgage company will consider several factors before approving a short sale. And, ultimately, the decision to approve the sale is completely up to them, so you and your realtor will want to be as cooperative as possible. Short sales often take longer to implement than a standard home purchase, so you'll also need to be patient.

The mortgage lender will want to know the circumstances that caused you to fall behind on your mortgage payments and what your future financial prospects for repayment may be. They will also do their own assessment of whether it is more profitable to approve the short sale or repossess the property and put it on the market themselves. Although most mortgage companies are helpful, their goal is to make money so they can ultimately decide to proceed with foreclosure.

How long will a short sale take?

In the best case it will only take a few weeks to get approval. Most of the times Short Sale process takes 3 to 6 months to get approved.