Your mortgage lender will be considering a number of factors in deciding whether to approve a short sale. A review of your circumstance, whether you deserve a break due to financial hardship caused by uncontrollable circumstances such as death, divorce, layoffs or illness. They will also take a hard look at whether it would be cheaper (or more profitable to them) to simply proceed with the foreclosure process on the house, make any necessary repairs and sell it through an agent. How many other real estate owned (REO) properties they have in their portfolio would affect their decisions as well.


The Process
 when a borrower falls behind on their payments the loan is usually sent to the lender’s loan loss mitigation department. Most lenders also consider short loan payoff sale requests in their loss mitigation departments. 

Your chances of success with your lender improve if your communications with them is organized and complete. Your contact with your mortgage lender’s loss mitigation department should be professional. You’ll want to send them the appropriate documentation and provide them with any additional information that they may require.

Keep in mind that lenders will approve a short sale as a last resort to avoid foreclosure.

If a home was purchased at the height of the market and has depreciated considerably, the home may be “upside down”, or is worth less than is owed. The lender may consider a short sale. 

The same is true for a property was recently refinanced at 100% or on an option arm leaving the property without equity. 

Keep in mind that lender is not in a position to manage property they are in the lending business. A home, while it’s sitting vacant waiting for sale, is accruing costly insurance premiums, taxes, repairs and bringing in nothing. The lender is losing even more because the lost interest they could be receiving on their asset. They have their money invested, but are making nothing from the investment until the property sells.

If a short sale can be accomplished, their money is returned and they are no longer losing money on the investment. In a short sale the bank may even be willing to finance a new owner, making it a win/win for all parties.


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2603 Stith Avenue
North Charleston, SC 29405
Waylyn
Residential

MLS# 17022117 / Active
3 br, 1 ba, 1 half bath, 1503 sqft

**Calling All Investors! Income-Producing Short Sale Opportunity!** This is One of the Largest Homes in the Neighborhood.**It Includes Two Outbuild... 

More Details

$84,900
Provided courtesy of Keller Williams Realty Charleston

112 Poplar Street
Moncks Corner, SC 29461
Residential

MLS# 17021854 / Active
4 br, 2 ba, 1966 sqft

SHORT SALE-we have already completed the short sale process and this could close quickly at the asking price. The home needs repairs and updates t... 

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$195,000
Provided courtesy of The Real Estate Firm

450 Doane Way
Charleston, SC 29492
Beresford Commons
Residential

MLS# 17020666 / Active
3 br, 2 ba, 1 half bath, 1314 sqft

Spectacular 3 bedroom town home, end unit on the pond! Spacious town home and a large screened porch over looking the pond make this a great choice... 

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$170,000
Provided courtesy of Charleston Homes

452 Brick Kiln Drive
Summerville, SC 29483
Branch Creek
Residential

MLS# 17020037 / Active
4 br, 2 ba, 1 half bath, 2368 sqft

Welcome to this newly built 4 bedroom, 2.5 bath well appointed home on a quiet street backing up to a wooded lot. A two car attached garage welcom... 

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$269,900
Reduced -$5,000
Provided courtesy of Brand Name Real Estate

104 Stratford Drive
Summerville, SC 29485
Kings Grant
Residential

MLS# 17018806 / Active
4 br, 3 ba, 2745 sqft

THIS BRICK COLONIAL IN KINGS GRANT IS GREAT FOR A LARGE FAMILY LOOKING FOR SPACE.OPEN BRIGHT FLOORPLAN WITH HARDWOOD FLOORS AND CERAMIC TILE HAS A ... 

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$259,900
Provided courtesy of Harbins Two, Inc

206 Oxford Way
Summerville, SC 29486
Sangaree
Residential

MLS# 17018584 / Active
3 br, 2 ba, 1056 sqft

This charming ranch home is nestled on a quiet cul-de-sac in an established community. It would make a great starter home or investment property! T... 

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$130,000
Provided courtesy of Jeff Cook Real Estate, LLC

2390 Seabrook Island Road
Johns Island, SC 29455
Seabrook Island
Residential

MLS# 17015137 / Active
3 br, 2 ba, 1 half bath, 4629 sqft

 

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$998,500
Reduced -$151,500
Provided courtesy of Harbins Two, Inc

1945 N Creek Drive
Mount Pleasant, SC 29466
Rivertowne Country Club
Residential

MLS# 17014372 / Active
4 br, 3 ba, 3340 sqft

SHORT SALE OPPORTUNITY! This Classic Charleston single sits on a beautiful tidal creek with a shared dock, providing easy access to the Wando Rive... 

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$950,000
Reduced -$40,000
Provided courtesy of Carolina One Real Estate

110 Conquerors Lane
Moncks Corner, SC 29461
Highways 17-a / Old 52 / New 52
Residential

MLS# 17012643 / Active
4 br, 2 ba, 1432 sqft

Come see this this unique home. This home has several possibilities. Would be great for a first time home buyer, retirement home buyer, investor. I... 

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$178,000
Provided courtesy of AgentOwned Premiere Group

1851 Woodland Road
Charleston, SC 29414
Pier Point
Residential

MLS# 17012449 / Active
2 br, 1 ba, 1041 sqft

Great first home, 2 bedroom and 1 bath located in West Ashley. Inside is recently renovated top to bottom with new hardwood floors, cabinets, appli... 

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$299,000
Provided courtesy of Sadler Group of Charleston LLC

1138 Quick Rabbit Loop
Charleston, SC 29414
Hunt Club
Residential

MLS# 17011787 / Active
4 br, 3 ba, 1 half bath, 3060 sqft

Short Sale Opportunity in the Well-Established & Popular Neighborhood of Hunt Club in West Ashley! ** Enter this Large 4BR/3.5BA Home from the Invi... 

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$329,900
Reduced -$4,600
Provided courtesy of Keller Williams Realty Charleston

8483 Yadkin Circle
North Charleston, SC 29406
The Lakes At Northwoods
Residential

MLS# 17007404 / Active
2 br, 1 ba, 1 half bath, 1096 sqft

Great location and price on this potential short sale. Close and convenient to I-26. Unit backs up to the pond with a deck off of the living room. ... 

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$55,000
Provided courtesy of ChuckTown Homes, LLC

311 Bald Eagle Court
Moncks Corner, SC 29461
Cypress Ridge
Residential

MLS# 17005492 / Active
4 br, 2 ba, 1 half bath, 2760 sqft

BANK APPROVED PRICE - SHORT SALE OPPORTUNITY ** Come See this Charming 4BR/2.5BA Home on a Quiet Street in Cypress Ridge of Moncks Corner-- Conveni... 

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$214,900
Provided courtesy of Keller Williams Realty Charleston

335 Estates Drive
Walterboro, SC 29488
Sweetbriar I
Residential

MLS# 17003268 / Active
3 br, 2 ba, 1 half bath, 2200 sqft

APPRAISED FOR $156k IN JULY 2017! Let's make a deal!Welcome home to this gorgeous 3 bedroom 2.5 bath home located in the quaint neighborhood of Swe... 

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$147,500
Provided courtesy of Oswald-Cole & Associates Inc.

106 Ayers Circle
Summerville, SC 29485
Salisbury Acres
Residential

MLS# 17002199 / Active
6 br, 4 ba, 4082 sqft

Rare find in Summerville. This home was completely remodeled in 2011 to include new electrical and plumbing.This is no cookie cutter home! The ext... 

More Details

$365,000
Provided courtesy of AgentOwned Premiere Group

8174 Waltham Road
North Charleston, SC 29406
Northwood Estates
Residential

MLS# 16026607 / Active
4 br, 2 ba, 1 half bath, 1728 sqft

This is a short sale The property does need some work. It is reflected in the list price. The frog is the 4th bedroom. 

More Details

$139,000
Provided courtesy of Carolina One Real Estate

212-A Village At Wild Dunes
Isle Of Palms, SC 29451
Wild Dunes
Residential

MLS# 16013496 / Active
2 br, 2 ba, 1229 sqft

Beautiful Two bedroom end-unit in The Village of Wild Dunes, a Four Diamond Award winning property. The Village Complex is the latest addition to W... 

More Details

$574,900
Reduced -$9,100
Provided courtesy of Wild Dunes Real Estate, LLC

9 Solomon Court
Charleston, SC 29414
Shadowmoss
Residential

MLS# 16012684 / Active
3 br, 2 ba, 1 half bath, 1802 sqft

3 BEDROOM 2.5 BATH HOUSE ON CUL-DE-SAC.FIREPLACE IN GREAT ROOM.FORMAL DINING ROOM. 2 CAR GARAGE.FENCED BACK YARD.HANDYMAN SPECIAL, EXTERIOR SIDING ... 

More Details

$160,000
Reduced -$20,000
Provided courtesy of Harbins Two, Inc

5804 Palmetto Drive
Isle Of Palms, SC 29451
Wild Dunes
Residential

MLS# 16012207 / Active
2 br, 2 ba, 1231 sqft

ALL OFFERS WOULD BE CONSIDERED!!!FURNISHED END UNIT WITH GREAT RENTAL HISTORY. THERE IS A WRAP AROUND PRIVATE BALCONY THAT HAS VIEWS OF THE POND A... 

More Details

$570,000
Provided courtesy of Carroll Realty
Residential, Land, Other Disclaimer: p>Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Carolina One Real Estate are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 08-20-2017 6:02pm est. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2017 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2017 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 08-20-2017 6:02pm est.

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