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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5150 Trump Street
North Charleston, SC 29420
Charleston Park
Residential

MLS# 17028434 / Active
3 br, 2 ba, 1 half bath, 1573 sqft

Everyone's favorite thing is yard work. Unless you get home from work exhausted and would rather work on your motorcycle or practice guitar. Then y... 

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$169,000
Provided courtesy of LIve Oak Real Estate

3601 Henrietta Hartford Dr
Mount Pleasant, SC 29466
Park West
Residential

MLS# 17028334 / Active
5 br, 4 ba, 1 half bath, 3992 sqft

If surroundings are important this gorgeous Home in the sought after Tennyson section of Park West is a MUST SEE! Enjoy the calm serenity of the ul... 

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$685,000
Provided courtesy of Carolina One Real Estate

1930 Tropicana Road
North Charleston, SC 29406
The Riverway
Residential

MLS# 17028312 / Active
2 br, 1 ba, 1 half bath, 1066 sqft

Nice condo in great location. Walking distance to Trident Technical College and nearby restaurants. This lovely unit has ceramic tile downstairs. S... 

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$75,000
Provided courtesy of AgentOwned Premiere Group

415 Parkdale Drive
Charleston, SC 29414
Carolina Cove
Residential

MLS# 17028171 / Active
2 br, 1 ba, 1 half bath, 868 sqft

Best deal in Carolina Cove. Great amenitites and location under $100k. Downstairs den, and kitchen with small courtyard and half bath. Upstairs are... 

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$94,500
Provided courtesy of John Poston & Company, Inc.

1162 Old Ivy Way
Mount Pleasant, SC 29466
Brickyard Plantation
Residential

MLS# 17027352 / Active Contingent
3 br, 2 ba, 1 half bath, 1717 sqft

Great opportunity to own this 3 bedroom and 2.5 bath house located in Brickyard Plantation.Nice floor plan with a lot of potential BUT NEEDS WORK!!... 

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$309,000
Provided courtesy of Golden Bear Realty, LLC

108 Alan Court
Summerville, SC 29485
Greenhurst
Residential

MLS# 17027261 / Active
4 br, 1 ba, 1 half bath, 1138 sqft

Lots of potential with this 4 bedroom 1 1/2 bath ranch style home. Located in the sought after DD 2 school district. Large, eat-in kitchen. Huge ba... 

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$115,000
Provided courtesy of AgentOwned Premiere Group

8111 S Split Oak
North Charleston, SC 29420
Pepperidge
Residential

MLS# 17026131 / Active
3 br, 2 ba, 1319 sqft

HANDY MAN SPECIAL with lots of potential! Very popular, traditional floor plan with a large family room and open to the kitchen and dining area. ... 

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$115,000
Reduced -$5,000
Provided courtesy of Home Solution Real Estate Services

8433 Taylor Plantation Road
North Charleston, SC 29420
Taylor Plantation
Residential

MLS# 17026055 / Active Contingent
5 br, 2 ba, 1 half bath, 2172 sqft

Welcome to Taylor Plantation! This neighborhood is conveniently located off Dorchester and Ashley Phosphate Roads and within the desirable Dorchest... 

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$216,000
Increase +$6,000
Provided courtesy of AgentOwned Premiere Group

447 Truman Drive
Goose Creek, SC 29445
Lakeview Commons
Residential

MLS# 17025716 / Active Contingent
4 br, 3 ba, 1 half bath, 1421 sqft

Welcome home to your beautiful like new home. This 2story town home has plenty to offer with dual Master Bedrooms. On the first floor the downstair... 

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$134,900
Provided courtesy of Carolina One Real Estate

3395 Miller Drive
Ladson, SC 29456
Ridgewood
Residential

MLS# 17024122 / Active
3 br, 2 ba, 1 half bath, 1720 sqft

Huge Corner lot. Great location with water and sewer. House needs some work and is being Sold AS IS. Central Air Conditioning is not work and on... 

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$185,000
Provided courtesy of Carolina One Real Estate

436 Ashburton Drive
Goose Creek, SC 29445
Devon Forest
Residential

MLS# 17023621 / Active Contingent
3 br, 2 ba, 1 half bath, 2060 sqft

Welcome home to 436 Ashburton Drive located in the desirable Devon Forest! This beautiful 2-story home with FROG is nestled within a cul-de-sac and... 

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$194,918
Provided courtesy of Carolina One Real Estate

530 Barfield Drive
Summerville, SC 29485
Walnut Farms
Residential

MLS# 17023456 / Active
5 br, 3 ba, 3545 sqft

Motivated Seller!!!!! Make an offer QUICK on this Wonderful home in a very desirable neighborhood with large wooded lot. Fantastic 5 bedrooms and 3... 

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$395,000
Reduced -$84,000
Provided courtesy of Miler Properties, Inc.

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... 

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$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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$180,000
Reduced -$15,000
Provided courtesy of The Real Estate Firm

450 Doane Way
Charleston, SC 29492
Beresford Commons
Residential

MLS# 17020666 / Active Contingent
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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$165,000
Reduced -$5,000
Provided courtesy of Charleston Homes

25 Kenilworth Road
Goose Creek, SC 29445
Willowbrook
Residential

MLS# 17019471 / Active Contingent
3 br, 2 ba, 1750 sqft

This one is full of potential. Spacious well laid out home in Goose Creek that is ready for your touch. Home features a large family room just of... 

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$110,000
Provided courtesy of Exit Realty Lowcountry Group

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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$120,000
Reduced -$10,000
Provided courtesy of Jeff Cook Real Estate, LLC

117 Pine Valley Drive
Summerville, SC 29483
Pine Forest Country Club
Residential

MLS# 17016050 / Active Contingent
5 br, 4 ba, 1 half bath, 3800 sqft

 

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$479,900
Provided courtesy of Horne Realty, LLC

518 Brick Barn Lane
Goose Creek, SC 29445
Brickhope Greens
Residential

MLS# 17015492 / Active Contingent
4 br, 3 ba, 2182 sqft

POSSIBLE SHORT SALE! Great home! Awesome floor plan with four bedrooms and 3 full baths. All bedrooms upstairs with a space for an office downstair... 

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$215,000
Reduced -$10,000
Provided courtesy of Carolina One Real Estate

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

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

 

More Details

$998,500
Reduced -$151,500
Provided courtesy of Harbins Two, Inc
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 10-20-2017 1:03pm 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 10-20-2017 1:03pm est.

Any images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website.


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With nearly 1000 agents, I will share your homes as a "coming soon" offering in our private Facebook group. Your home will be exposed to all of the buyers Carolina One agents are working with and will sell your home faster, and for more money... and this may even happen before it is placed on the market.

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