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Hi, I am Mark Alan Adams. I am the owner and founder of the Mark Alan Adams team. We are the premier Orlando short sale team. On today’s episode, I wanted to give you the explanation of a short sale. I still receive lots of questions regarding what a short sale is. A lot of potential clients are familiar with the phrase given the current house market. Nonetheless, the simple definition of a short sale is when a borrower owes more cash on a home than the home is actually worth and the bank accepts less for the sale of the house than what is actually owed on the property. That is a short sale.
The follow up query that we usually get from possible Orlando short sale clientele is “What does it take to qualify for a Orlando short sale?” Lots of people think that they need to call the bank to acquire authorization to carry out a short sale. I am here to inform you that is not the situation. You don’t need to call your lender. If you owe more on your property than what it is currently worth, you qualify for a Orlando short sale and you don’t have to get authorization from the lender.
It helps to have a hardship of some kind. Job loss, tremendous credit debt, separation, or job transfer can help the process. Nevertheless it is not entirely necessary. The fact that you desire to sell your Orlando home and it is not worth what it used to be worth qualifies you for a short sale.
For more information about Orlando short sales and how the Mark Alan Adams group works, there is a link directly to the right of this video on our blog. If you click that link and download our short sale package it gives you a comprehensible vision of what a short sale is and what you can be expecting from carrying out a short sale. It will also give you some insight regarding what you can be expecting from us and all of the paperwork that you may need for your bank. Go ahead and click that link now or give us a call and we will answer all of the questions that you might have.
Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando