Short Sale
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A short sale is a sale in which the lender agrees to accept less than the mortgage balance to release the lien.
What Short Sale means
It requires lender approval and can take months. Sellers avoid foreclosure while buyers may find value, though properties sell as-is and timelines are unpredictable.
Florida example
A Florida owner who owes $320,000 on a home now worth $290,000 negotiates a short sale with the lender. The buyer gets a deal, but should expect delays waiting for lender sign-off.
What it is
A short sale is when a lender agrees to let a home sell for less than the mortgage balance. It helps an owner avoid foreclosure.
The lender must approve the price and the loss.
What buyers should know
Short sales can be good deals but often take longer to close. Patience and the right guidance help.
We help buyers navigate short sales in Florida. Reach out and we will guide you through the process.