Short Sales
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.
These types of sales have become prevalent across the country, and the Keys have been no exception.
Click on the links below to view current listings that are being marketed as potential short sales.
"Short sales can present a buyer with some great opportunities to own property in the Florida Keys, but they have proven to be more difficult than traditional sales. I am short sale certified and have the skills to navigate through this complex transaction for you"
- Jon Leimkuhler, Realtor, GRI
- Jon Leimkuhler, Realtor, GRIRush Hour - Florida Keys Style
