The Short Sale Process for Sellers

short saleHave you fallen behind in your mortgage?
Have you recently suffered a job loss on reduction in your income?
Have you recently been through a divorce and can’t afford your monthly bills alone?


These are all situations that many Americans face on a daily basis, it’s scary!  If you have fallen behind on your bills and/or received a notice from your mortgage lender that they you could be facing foreclosure you have options!  You may have equity in your home that you are unaware of, home values have gone up an average of 10% in the Denver area over the last 12 months.  You may qualify to short sale your home.  If you are considering a short sale, here are a few guidelines to the process.


1. First you must determine if you and your home are eligible for a short sale.  There are several qualifying factors here.
-Is your hardship going to be long term?
-Do you owe more on the home that market value (what you can sell it for).
-You can no longer afford to keep your home or need to relocate.
-You are not eligible for a loan modification or refinance through your lender.

2. Select a Realtor to help you short sale the home.  Surprisingly your Realtor will play a critical roll in the short sale of your home.  A Realtor knowledgeable in the short sale process, like The Storck Team, will have a team of specialists on your side from professional short sale negotiators to Realtors experienced in marketing and lender policies regarding your home.

3. Apply to your lender for participating in a short sale.  The lender will ask you for documentation to approve your request to short sell.  This is where our team of professionals will help you start the process in explaining to your lender why you need to short sell your home.

4. We put your home for sale on the real estate market.  Your home will be designated as a short sale and marketed with the understanding that the home is sold as is and you are not in a position to make any repairs.  This protects you from going through costly inspection repairs that you cannot afford.

5. Your lender will hire an appraiser to assign a market value to your home.  This is a huge step!  This will let you know how much you need to accept for a contract price on your home.


There are so many variables to the short sale process, and each circumstance is different.  Despite being called a “short” sale, they actually take significantly longer than a regular home sale.  A short sale means that you are selling the property short of what you owe on your mortgage.  You should plan on the sale process taking a minimum of six months.


Aaron Storck and Tatyana Sturm-Storck

Aaron Storck and Tatyana Sturm-Storck

Tatyana Sturm and The Storck Team have been honored to serve the Denver and surrounding areas in relocation real estate for the last 10 years as one of Denver’s leading short sale and foreclosure specialists.  If you or someone you know is facing foreclosure, make sure you are educated on your options.  You might have equity or money in your home that you are unaware of in this ever changing real estate market.  Call or text The Storck Teamto explore your options with short sale and foreclosure today at (720) 350-5909.  We are available 7 days a week for a consultation.

Aaron: 720-273-7419
Exit Realty


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