Short Sale Options

Short sales are more varied than most people think. There’s not just one way to go about a short sale; in fact, one of the first decisions you will have to make is how to get it done. The three most common short sale options are through a realtor, through an attorney, and on your own. This guide discusses all three options and how each one can help your case.

Short Sale Through a Realtor

This is the most common short sale option today, and for good reason. Working with a realtor gives you a good advantage over other sellers and allows you to negotiate better with your lender. Choose a realtor with specific experience in short sales and in your area, and don’t hesitate to ask for client references. You can also compare prices from one real estate agent to the other, so you have a good idea of what makes a good offer. A good realtor will even go the extra mile and refer you to other professionals who can help your case, such as a financial adviser or a staging expert to help sell your home faster.


Short Sale Through an Attorney

Some people choose to sell their homes through a lawyer instead. This short sale option is more common in homes encumbered by legal issues, such as title problems. If you think your lender has violated lending laws, an attorney may also be a good choice. Most short sale attorneys will cost more than a realtor, especially if your case is complicated. Look around for attorneys who have worked with cases similar to your own. Most of them can make a quick assessment based on your financial documents, and some will even suggest other short sale options in case legal representation isn’t really required.

Do-it-yourself Short Sale

If you’re on a tight budget, you may want to consider doing your own short sale. Of course, the process is difficult and it takes a lot more work on your part, but you will be saving a good deal of money. Read up as much as possible on short sales and short sale options. Call up your bank and ask about their policies on short sales, so that you can plan your application accordingly. It’s best to act as early as possible, as the process can take much longer when you’re doing it on your own. When you’re unsure about something, try calling up a realtor or attorney to help clear things up for you.