Owe more than the house is worth? A short sale can let you walk away.
A short sale is when your lender agrees to take less than what you owe so the home can be sold and the loan closed out — instead of foreclosure. We buy through short sale in every state, deal directly with the bank's loss-mitigation desk, and close on the date the lender approves.
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A short sale is when the loan balance is bigger than the home is worth.
You stopped being able to pay, or you can see you won't be able to keep paying. The mortgage payoff is more than what the home will sell for. A traditional sale doesn't work because the proceeds wouldn't cover the lien.
In a short sale the lender agrees to accept the sale price even though it leaves a gap. They'd rather take the loss now than spend 12-18 months foreclosing. We walk that conversation with them on your behalf — you don't talk to the bank.
Four situations where it fits.
You're underwater
Property value dropped below what you owe. A regular sale leaves you on the hook for the deficiency. A short sale clears the lien.
You're behind on payments
30-90+ days past due, lender's loss-mitigation desk is already involved. A short sale can be approved faster than refinance or loan-mod paths.
Foreclosure has started
Lis pendens filed, but you still have time before the auction date. We can negotiate a short-sale buyout and close before the auction.
You can't qualify for refinance
Underwriting closed the door because of credit, income, or DTI. The short sale lets you exit cleanly without the foreclosure record.
Five steps. We do the lender part.
- 1
Tell us about the property and the loan. We make a written offer at the price we believe the lender will accept.
- 2
We contact your lender's loss-mitigation desk. They send you a short-sale package — we help you fill it in (hardship letter, financials, listing terms).
- 3
Lender orders a Broker Price Opinion (BPO). They appraise the home themselves to decide whether to approve.
- 4
Lender approves the sale with terms (price floor, deficiency waiver, relocation assistance in some cases). We sign.
- 5
Close on the lender's approved date. The lien is released. The foreclosure case (if any) is dismissed.
What a short sale is good at — and what it isn't.
Pros
- Avoids foreclosure on your credit report
- Lender often waives the deficiency in writing
- Some lenders pay relocation assistance at closing
- Closes faster than a contested foreclosure
- We pay all closing costs — you net nothing out of pocket
Cons
- Lender approval can take 60-120 days
- Credit score impact is real (smaller than foreclosure, still ~50-150 points)
- Second-lien holders can refuse — adds complexity
- Tax implications on forgiven debt in some states (we'll flag this)
Think a short sale might be your way out?
Talk to a person on our team. We'll tell you within a phone call whether a short sale is worth pursuing or whether another exit makes more sense.
See what your house is worth in cash.
It takes 90 seconds. No credit check, no agent visit, no commitment. You'll have a real number in your inbox tomorrow.
Sell Your House As-Is.
Get a Cash Offer From a Real Buyer — Not an Algorithm.
We buy houses nationwide. No repairs. No realtors. No fees. A real person calls back within 7 minutes.