Short sales allow a homeowner to close on the sale of property when it is worth less than the debts secured by it. Typically, the lender agrees to accept the net proceeds from a closing in exchange for releasing its lien. Lenders are not agreeing to a short sale to be generous, they are convinced that it will come out better than it would by foreclosing on the home and pursuing the borrower for its losses.
While the procedures for a short sale will vary from lender to lender, most lenders need to be convinced of the following:
The Sales Price Is Not Too Low
The sales price of contract is equal to what they would be able to sell the property for after a foreclosure. While the lender may review the market analysis provided by the agent, they will often confirm the market analysis by contacting its own sources, such as an appraiser.
All Costs Associated With The Sale
The commission for the transaction is equal to the commission it would pay its agent for selling the home after foreclosure. The lender will need to know as precisely as possible the amount of proceeds it can expect to receive from the sale.
A Good Reason They Should Accept It
The lender will want an explanation of the circumstances, which caused short sale in the first place. These usually include death, medical problems, divorce, loss of a job, or a job displacement requiring a move.
A Financial Package On The Seller
The seller doesn't have the resources to make up the mortgage shortfall on their own. The lender will require a full assessment of the financial condition of the seller. Financial statements, income and expenses, tax returns and the seller's paycheck stubs should be provided. The seller's financial condition is a tricky proposition. While the lender will be reluctant to approve a compromise without reviewing strength of the seller, this information will help the lender in pursuing the seller for a post-foreclosure deficiency if the short sale does not take place.
So What Is The Risk?
A seller with few assets, little or no income, and a willingness to file bankruptcy has little to lose by providing this information. Those with other assets, a good job with garnishable wages, or a desire to avoid bankruptcy will put themselves at risk in the process. Those considering a short sale need expert legal advice regarding the wisdom of submitting financial information to the lender.
Modify Search Criteria
Your search returned more than 1500 results (4888). Please refine your filters for better results.
7875 Champion Way UNIT E
North Charleston, SC 29418
The Park At Rivers Edge
Residential
MLS# 26019714 / Active
Welcome to this beautifully updated 2-bedroom, 1.5-bathroom end-unit townhome, offering 1,225 square feet of well-designed living space. Located in...
100 Royal Star Road
Summerville, SC 29486
Cane Bay Plantation
Residential
Welcome to this beautifully maintained home in Sanctuary Cove at Cane Bay Plantation! Situated on a landscaped, fenced corner lot with irrigation, ...
211 Congress UNIT Apt B
Charleston, SC 29403
Hampton Park Terrace
Residential
MLS# 26019711 / Active
Welcome to this beautifully maintained 4-bedroom, 2-bathroom townhome nestled in one of downtown Charleston`s most desirable neighborhoods, just mo...
8614 Windsor Hill Boulevard
North Charleston, SC 29420
Windsor Crossing
Residential
MLS# 26019709 / Active
Embrace this rare opportunity to own one of the few traditional two-story homes within the very desirable Windsor Crossing community! This beautifu...
2409 Georgia Guard Drive
Johns Island, SC 29455
Stonoview
Residential
MLS# 26019708 / Active
Welcome to 2409 Georgia Guard Drive, where timeless Lowcountry charm meets modern comfort in the highly sought-after Stonoview community on Johns I...
1013 Old Cypress Run
Hanahan, SC 29410
Oak Pointe
Residential
MLS# 26019706 / Active
Welcome to 1013 Old Cypress Run! Built in 2024, this nearly new construction, spacious, 3-bedroom, 2.5-bath end unit townhome offers over 2,200 squ...
653 Barbados Drive
Charleston, SC 29492
Beresford Hall
Residential
MLS# 26019705 / Active
This is a rare opportunity to own the lovely brick two story home on the prestigious Barbados Drive in the desirable gated community of Beresford H...
336 Coinbow Drive
Mount Pleasant, SC 29464
Hobcaw Point
Residential
MLS# 26019702 / Active
Situated on more than an acre in the coveted Hobcaw Point community, and just minutes from downtown Charleston, this exceptional custom residence o...
201 Darcy Avenue
Goose Creek, SC 29445
Persimmon Hill Townhouses
Residential
MLS# 26019701 / Active
THIS IS NOT YOUR AVERAGE TOWNHOME! This spacious THREE-STORY END UNIT offers 4 bedrooms, 3.5 bathrooms, 2,583 square feet, multiple living spaces, ...
3292 Queensgate Way
Mount Pleasant, SC 29466
Park West
Residential
MLS# 26019699 / Active
Completely renovated and move-in ready! This beautifully updated 1,300 sq. ft. duplex offers modern finishes, low-maintenance living, and an unbeat...
1837 Sundancer Lane
Goose Creek, SC 29445
St James Estates
Residential
MLS# 26019698 / Active
Welcome to 1837 Sundancer Lane, Goose Creek, SC 29445, an exceptional 4 bedroom, 2 bath residence nestled on a quiet cul de sac in the highly desir...
1667 Wading Heron Road
Charleston, SC 29412
Riverfront
Residential
MLS# 26019697 / Active
Welcome to your opportunity to own a beautifully designed new construction home overlooking a peaceful pond. This elevated Lowcountry residence off...
113 Grimball Street
Summerville, SC 29486
Carnes Crossroads
Residential
MLS# 26019696 / Active
Welcome to 113 Grimball Street, a beautifully appointed 2022 Toll Brothers Camelia floor plan that perfectly blends Lowcountry charm with modern lu...
4 Garth Drive
Charleston, SC 29414
Shadowmoss
Residential
MLS# 26019694 / Active
Welcome to 4 Garth Drive, tucked away on a quiet cul-de-sac in the highly sought-after Shadowmoss Plantation, West Ashley`s only golf course commun...
106 Laurels Curve
Summerville, SC 29485
Irongate
Residential
MLS# 26019693 / Active
***Ask about the possibility of receiving 1% reduction in interest rate and free refi.***Welcome to this inviting home in the established Irongate ...
266 Clarabelle Lane
Summerville, SC 29483
Six Oaks
Residential
MLS# 26019692 / Active
October Completion. Step into the Meriwether plan-- This spacious layout features 4 bedrooms + Loft, 3 bathrooms, a flexible loft, and an open-conc...
11 Captiva Row
Charleston, SC 29407
Ashley Hall Plantation
Residential
MLS# 26019691 / Active
Welcome to 11 Captiva Row! This beautifully maintained Colonial brick estate is a hidden gem nestled within the serene and highly sought-after Ashl...
3925 Lybrand Street
Edisto Island, SC 29438
Beach Walk
Residential
MLS# 26019690 / Active
Experience coastal living at its finest in this beautifully positioned 4-bedroom, 3.5-bath marsh front home, perfectly situated just moments from t...
165 Clydesdale Circle
Summerville, SC 29486
Mackey Farms
Residential
MLS# 26019689 / Active
Welcome to a premium corner lot in the desirable Mackey Farms community. Situated beside a peaceful pond, this property offers exceptional privacy ...
4990 Paddy Field Way
Ladson, SC 29456
Mckewn
Residential
MLS# 26019687 / Active
Fantastic opportunity to own a 4 bedroom home with beautiful pond views from the kitchen, living room and master bedroom. This home offers a wide o...
2 McDonough Road UNIT Unit C-11
Folly Beach, SC 29439
Mariners Cay
Residential
MLS# 26019686 / Active
Welcome to Mariners Cay Marina! Located on the Folly River. Private and gated with easy access to Lighthouse inlet, Kiawah/Seabrook, Morris Island,...
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 EXP Realty LLC 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 07-09-2026 11:52 PM 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 2026 Charleston Trident Multiple Listing Service, Inc. All rights reserved.