RECkoning With Real Estate – Ep. 49: Understanding Short Sales (Part 1)

Liz Novotny of Hamm Real Estate Co. joins Meghan this week in part one of this two part series to tackle an often-misunderstood topic of real estate: short sales. Despite the name, “short” doesn’t refer to how long the process takes. In fact, it often takes longer than a traditional sale! Instead, it refers to the lender agreeing to accept less than the remaining balance on the mortgage, and may be an alternative solution to those in foreclosure. Liz breaks down how short sales work, why they require so much coordination between the homeowner, lender, and real estate agent, and when they may be the best option for the homeowner. We also discuss why a short sale may be a better alternative to foreclosure for some homeowners, who to contact if you find yourself in this situation, and what you can expect throughout the process. Find us at therecollab.com, we’re happy to help with anything real estate.

Extras:

Last episode with Matt Berna, our mortgage lender!

Hamm Real Estate Company

Meet Liz Novotny!

Meet Matt Berna!

Thank you to our Sponsors!
Taylor Hall @ Evergreen Collective

Matt Berna @ Bell Bank Mortgage

Ben Feldman @ Active Insurance Solutions