What is a Short Sale? A short sale is a real estate transaction in which the sales price is insufficient to pay the debt and obligations encumbering the property along with the costs of sale, AND the seller is unable to pay the difference. Every short sale is dependent upon the seller's lenders consenting to the transaction and agreeing to release the lender's security interest in exchange for less than what is owed. In some cases however, the lender's approval of a short sale does not necessarily mean the lender relieves the seller of liability for repayment of the entire debt.
What is a Foreclosure (REO)? A foreclosure is when the bank has taken ownership of a home because the owner has failed to make their mortgage payments. The costs of holding a foreclosed home are a burden on the bank so they want to resell the home as quickly as possible. Foreclosed homes are often listed at below market value to sell quickly. Foreclosures can be a great deal for a home buyer.
We are the Seattle Short Sale and Foreclosure Experts We have the best team of brokers, staff and negotiators. Half of our home sales in the past year have been short sales. Pat Lord is a Certified Equator Short Sale Agent, Equator Certified Silver Agent and Chase Bank Priority Partner.
- Houses - Condominiums - Duplex or Mutliplexes
- Mobile Homes & Mobile Home Parks
- Commercial Properties
- New Construction
- Vacant Land - Sub Divisons - Short Plats - Acreage - Developement
- Waterfront - Luxury Homes - Estates - Equestrian - Historic Properties
- Foreclosures - Short Sales - REO (Bank Owned) - HUD - Repo - VA - FHA
- Sales - Leasing - Property Management
- Property Trades
Call us to protect your financial future. 425-744-5555 / 206-650-4728
Thank you for your very professional handling of my Father's Home sale in Seattle.
Our experience was nothing short of amazing. You performed superbly as an Agent but more importantly as a savvy Advisor since I had to remain in California during the process.
We have bought and sold many homes over the years and the sale of my Dad's house was the most smooth, pleasant and speedy one to date even with us being 2 states away.
You always kept us up to date with the latest status and gave early warnings of potential issues which thankfully to your skills, never surfaced.
Your recommendation of Supporting Services; Estate Sale, Clean-up, Escrow and Contractors was extremely helpful.
Escrow went smoothly, sale was very quick and at a very good price in very down market.
Again your communication was excellent throughout the process which instilled a high level of confidence that things were getting done.
I can highly recommend you and your team of professionals to List and Sell anyone's home.
Thank you again for everything,
Mission Viejo, CA