Short sale and foreclosure-related selling
Facing Foreclosure? Explore Your Selling Options.
Falling behind on mortgage payments or receiving a foreclosure notice is stressful, and you do not have to sort through it alone. If you are thinking about selling because of mortgage difficulties, we can talk through your property, your goals and the options a sale may offer, in English or Spanish.
When there is sufficient equity, a traditional sale may be possible. A potential short sale requires lender approval.
Already spoke with our office? Continue to your package
Submitting this inquiry does not establish an agency relationship, reserve a property, constitute a loan application, or guarantee financing. Any representation agreement or financing application is handled separately.
Our real estate role
- Discuss the property, selling goals, and known deadlines.
- Review market value and potential sale proceeds.
- Explain the potential sale process.
- Develop a marketing strategy if the owner chooses to list.
- Help organize sale-related materials and authorized communications.
- Coordinate with the homeowner's attorney, servicer, and transaction professionals.
Two possible paths
A traditional sale
May be possible when there is sufficient equity: the sale pays what is owed on the property and the costs of sale.
A potential short sale
When the sale proceeds may not be enough to pay all liens and costs of sale, a short sale needs the written approval of your mortgage holders and any other affected lienholders. It works through our listing agreement and our Short Sale Addendum.
What Happens Next
- Reach outSend an inquiry or call us. If you know, you can tell us whether you have received court papers or have a sale date. Please do not send documents at this stage.
- Talk it throughWe discuss your property, your selling goals and any known deadlines, and review market value and potential sale proceeds.
- Review the agreementsIf you choose to list, our office gives you our Exclusive Right-to-Sell Listing Agreement and, for a short sale, our Short Sale Addendum to review.
- Market and coordinateWe develop a marketing strategy and coordinate with your attorney, your servicer and the other professionals in the sale.
Disclosures
Contacting Plan A Realty Corp., listing your property, or submitting a short-sale request does not stop foreclosure or extend legal deadlines. Short sales require lender approval. Approval, debt forgiveness, and completion before a foreclosure sale are not guaranteed. Plan A Realty Corp. provides real estate brokerage services, not legal representation. If you have received court papers or a sale notice, promptly contact a New York foreclosure attorney.
A short sale needs the written approval of your mortgage holders and any other affected lienholders, and neither a listing nor an offer guarantees that approval, its timing, your net proceeds or a closing.
A short sale can affect credit and may have tax consequences. We do not promise any result, and we never recommend that you stop making mortgage payments.
Submitting this inquiry does not establish an agency relationship, reserve a property, constitute a loan application, or guarantee financing. Any representation agreement or financing application is handled separately.
Contact our office
OfficePlan A Realty Corp.
461 Maple Avenue, Westbury, NY 11590
Main number (call or text)516-777-0385
Emailinfo@planarealty.com