Known in the real estate profession as a “short sale”, the situation occurs when the proceeds of a home sale fall short of what the seller still owes on the mortgage. In these situations, the bank can hold the borrower liable for the full amount, reduce that amount to something more manageable or decide to forgive the debt altogether. Gary and Justin Miles have worked with numerous clients in need of help to successfully negotiate short sale strategies and avoid bankruptcy, and work through unfortunate circumstances and personal hardship. They are also adept at helping buyers and investors identify, negotiate and purchase short sale properties. While short sales and foreclosures are now common occurrences due to a variety of reasons, it is important for anyone interested in selling short or purchasing a short sale to work with highly qualified real estate professionals like Gary and Justin Miles to protect their interests and achieve their goals. That’s because the short sale market is constantly changing. Whoever is handling the short sale process for either the seller or buyer must be up to date on the latest rule changes, lien holder strategies, and negotiation dangers and opportunities.
Gary Miles & Justin Miles with RE/MAX of Cherry Creek
Denver Metro Real Estate Agents