Geoff Hollands has negotiated over 200 successful Short Sales and is a Certified Distressed Property Expert® (CDPE). Realtors with this background are able to guide their clients through the legal and tax ramifications of completing this specialized type of real estate transaction. If you’re in default on your mortgage and are experiencing hardship, a short sale may be the best solution for you.
A short sale occurs when the proceeds from selling the property fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens’ full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.
A simpler explanation: Homeowner owes more to their lender than their home is worth, the lender agrees to accept a purchase amount less than what is owed; the Seller sells the home as a “short” sale and moves forward with their lives.
The short sale process begins when a Seller hires a Realtor to handle the negotiations between the homeowner and their mortgage company. In some cases, there can be multiple mortgage companies involved. To become eligible for a short sale, a homeowner must be able to provide documentation of their financial hardship and its circumstances as evidence to the mortgage company. Handled properly, the Seller should walk away with no deficiency judgment and no negative tax ramifications.
With his long track record of success and an understanding of bank tactics, Geoff is the right Realtor to work with you on a short sale. Connect today to learn more!
Short Sale Testimonials:
“With his perseverance and expertise, I was able to successfully complete a short sale of my home. I could not have held it together through this involved process without his guidance. Geoff waded through a maze of bank bureaucracy and stayed cool through every hurdle. It was quite an achievement!”
“I am thankful to have completed the short sale of my house as a direct result of Geoff’s 100% dedication to negotiating the banks’ approval. A short sale is frustrating and time consuming, but Geoff’s expertise and good-humor guided me through the process. Geoff was accommodating to my schedule and walked me through all the necessary paperwork. It was a relief to have Geoff’s persistence and interpersonal skills to deal with the banks’ negotiators. Even the buyer of my home was impressed by Geoff’s professionalism.”