Southwest Florida Title Insurance & Real Estate Blog -

Winged Foot Title’s Short Sale Title Solutions team has closed hundreds of short sales over the last year…

and maintains about 250 active short sales which we help orchestrate.

Of the vast difficulties that impede a successful short sale, the most frequent and the most avoidable is, you guessed it, unrealistic seller expectations.

There is little more frustrating in the business of short sales than a seller with unrealistic expectations.

Our advice is to equip potential short sellers with as much information as possible in advance of spending the countless hours working the short sale.

Only when that seller has come to terms with the possibilities, is it worth the while in taking on the short sale listing and the work related thereto.

What follows will be real-life examples from the work we have done and some tips on how to set short sellers’ expectations properly.

Over the course of the next four entries, we will discuss exactly how to set short seller’s expectations by exploring exactly what the potential outcomes are.

This exploration should prepare the real estate professional to handle potential clients’ questions and will go a long way in preparing that client for the realities of their short sale.

By way of introduction, we will first consider the following potential outcomes of a short sale related to the outstanding debt:

  • The lender agrees to release the mortgage lien and to release the borrower from all future liability.
  • The lender agrees to release the mortgage lien and to release the borrower from future liability in exchange for a cash contribution at closing.
  • The lender agrees to release the mortgage lien and to release the borrower from future liability in exchange for a promissory note.
  • The lender agrees to release the mortgage lien but does not provide any guidance with regard to future liability.

If this information is just what you’ve been looking for then you have come to the right place! Stay tuned for our next post to learn more about short sales.

If you have question about short sales, or any other real estate questions – please don’t hesitate to contact us, or call us at (239) 985-4142. We service all of Southwest Florida including: Fort Myers Estero, Bonita Springs, Naples, Cape Coral, Pine Island, Punta Gorda, and Port Charlotte.

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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.