What is a Short Sale?

A Short Sale in Real Estate occurs when the sales price of the home is NOT high enough to cover the liens (Mortgages) and closing costs.  When this happens, a seller only has 2 options:  1.)  come to the closing with a check for the difference, or 2.)  short Sell the home.  In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor.  The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt.  In such instances, the lender would have the right to approve or disapprove of a proposed sale.  Even if your home is worth more than you owe but you can't pay closing costs or taxes, this can still be a short sale and your bank will work with us.

Why Labra Group is different from the rest…….

Your benefits by going with The Labra Short Sale Team:

1.)      NO Upfront or Monthly Fees! Run whenever you hear those words.  Many foreclosure scams attempt to take an upfront or monthly fee to “negotiate” the short sale and then never hold up their end of the deal.  Why pay anyway for a process that is not guaranteed and is ultimately up to the bank.

2.)      You WILL NOT have to pay the attorney, title company, appraiser, your negotiators, or your Realtor (us)!  Most home sellers still must pay many of these expenses, costing them $1,000s in out of pocket expenses.  Even if your home does not close, YOU DON’T PAY 1 CENT!!!

3.)      You will not have to go in to FORECLOSURE.  That is what happens to most of the home sellers that are in your situation.  A Short Sale will in NO WAY affect your Credit as much as a Foreclosure will!

4.)      Your CREDIT can recover in as little as 2 years after a short sale.  Most experts say foreclosure will affect it for 7 – 10 years!

5.)      You may not have to go in to BANKRUPTCY.  This is what can happen to you if you do not have the $ to pay the bank back to difference.  This is not a fun process also will require out of pocket expenses for you.

6.)      You get an entire Professional Short Sale Company  to work for you for FREE.    Our short sale negotiators are full time and short sales are all they do.  We know the banks policies and procedures and have a successful system to get short sales done!  It is possible for junior lien holders and homeowner’s associations to prevent a short sale, but we are successful in clearing up all liens and getting homes closed.

7.)      This is a PRIVATE sale!  Unlike foreclosure, which is all public knowledge, a short sale is still a private sale.  Your friends, neighbors and family will only know that you decided to sell your home and move on.

8.)      Stay in your house and Relax Until Closing!  You will not need to move out until closing, thus saving you more money from having to immediately rent.

9.)      It is a Win-Win for all involved!  You get the Peace of Mind to move on with your life and the bank gets to cut their losses and not take the home back into their inventory at the auction.   A short sale is typically much faster and far less expensive than the foreclosure process, and the bank will be more than willing to negotiate on any reasonable offer.  The foreclosure doesn’t benefit anyone!