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.
162 Ireland Drive
Summerville, SC 29486
Carnes Crossroads
Residential
MLS# 26019643 / Active
Welcome to Horizons, an exclusive 55+ gated active adult community situated in the highly desirable Carnes Crossroads masterplan. Residents enjoy l...
234 D Captain Kidd Court
Summerville, SC 29486
Carnes Crossroads
Residential
MLS# 26019642 / Active
Welcome to Horizons, an exclusive 55+ gated active adult community situated in the highly desirable Carnes Crossroads masterplan. Residents enjoy l...
235 Sweet Cherry Lane
Summerville, SC 29486
Shell Pointe At Cobblestone Village
Residential
MLS# 26019640 / Active
Welcome to 235 Sweet Cherry Lane in Shell Pointe at Cobblestone Village. Built in 2022, this 4-bedroom, 2.5 Bath home offers 2,174 sqft. of comfort...
122 Tyger Street
Summerville, SC 29485
Lakes Of Summerville
Residential
MLS# 26019639 / Active
Welcome home to this beautifully maintained 3-bedroom, 2-bath ranch in desirable Lakes of Summerville! The open floor plan features a spacious fami...
2030 Robin Wood Boulevard
Moncks Corner, SC 29461
Oak Hill Plantation
Residential
MLS# 26019638 / Active
Welcome to 2030 Robin Wood Drive in Oak Hill Plantation. This spacious 2,628 sqft. home offers four spacious bedrooms, two and a half bathrooms, a ...
95 Gordon Street
Charleston, SC 29403
Wagener Terrace
Residential
MLS# 26019637 / Active
2,617 Total SqFt with 1,998 SqFt in main house plus 618 SqFt in ADU. Welcome to 95 Gordon Street, a beautifully updated 4-bedroom, 3.5-bathroom hom...
402 Parish Farms Drive
Summerville, SC 29486
Carnes Crossroads
Residential
MLS# 26019636 / Active
Welcome to 402 Parish Farms Drive, a move-in ready home in the highly sought-after Carnes Crossroads community. Thoughtful updates, including fresh...
1216 Old Towne Road
Charleston, SC 29407
Wespanee Plantation
Residential
MLS# 26019633 / Active
Welcome to 1216 Old Towne Road, a brand-new construction home on a rare .43-acre private lot just minutes from Downtown Charleston. Builder warrant...
335 Spruce Ivy Street
Moncks Corner, SC 29461
Stone Ridge
Residential
MLS# 26019632 / Active
Welcome to this beautifully appointed Cali floorplan in the highly desirable Stone Ridge community, where modern elegance meets comfortable Lowcoun...
311 Hillman Trail Drive
Moncks Corner, SC 29461
Foxbank Plantation
Residential
MLS# 26019631 / Active
Beautiful 4-bedroom, 2.5-bath home located in the newer section of Foxbank, featuring the the primary suite conveniently located on the main level!...
1096 Refuge Way
Summerton, SC 29148
Residential
MLS# 26019630 / Active
Welcome to this beautifully designed 3 bedroom, 2 bathroom home offering 1,196 square feet of thoughtfully planned living space on a generous .36 a...
78 King Charles Circle
Summerville, SC 29485
Newington Plantation
Residential
MLS# 26019628 / Active
Located in the well-established Newington Plantation neighborhood, 78 King Charles Circle is a traditional two-story home set on a spacious, fenced...
1300 Park West Boulevard UNIT #611
Mount Pleasant, SC 29466
Park West
Residential
MLS# 26019627 / Active
RENOVATED & MOVE-IN READY! Beautifully updated 2-bedroom, 1-bathroom 2nd floor condo with a 1 CAR GARAGE in the gated community of Madison at Park ...
1113 Santa Elena Way
Johns Island, SC 29455
Fenwick Commons
Residential
MLS# 26019620 / Active
1113 Santa Elena Way is the location you`ve been waiting for! Just steps from the neighborhood pool, minutes from the shopping and dining along May...
234 C Captain Kidd Court
Summerville, SC 29486
Carnes Crossroads
Residential
MLS# 26019618 / Active
Welcome to Horizons, an exclusive 55+ gated active adult community situated in the highly desirable Carnes Crossroads masterplan. Residents enjoy l...
2140 Kings Gate Lane
Mount Pleasant, SC 29466
Dunes West
Residential
MLS# 26019617 / Active
Dual primary bedrooms! Downstairs bedroom is attached to full-bath or use one of the 2 upstairs bedrooms as the primary bedroom. Newer flooring & N...
256 Cloverleaf Acres Lane
Summerville, SC 29486
The Crossing at St. James
Residential
MLS# 26019615 / Active
Charming Charleston-Inspired Townhome Near Summerville & CharlestonWelcome home to 256 Cloverleaf Acres Lane, located in The Crossing at St. James,...
1217 N University Drive UNIT Unit A
Ladson, SC 29456
Creekside Village
Residential
MLS# 26019613 / Active
Great Location! 3 bed 2 bath duplex with one car garage. Kitchen with breakfast bar open to dining and family room. Spacious master bedroom with tr...
4006 Crown Pointe Street
Charleston, SC 29492
Daniel Island
Residential
MLS# 26019612 / Active
Welcome Home to Daniel Island!Meticulously maintained and extensively upgraded, this beautiful home is nestled in the highly desirable Center Park ...
3362 Berryhill Road
Johns Island, SC 29455
Cedar Springs
Residential
MLS# 26019610 / Active
Welcome to 3362 Berryhill Road, where comfort, convenience, and Lowcountry living come together in the Cedar Springs community on Johns Island - wi...
1402 Camp Road UNIT 3f
Charleston, SC 29412
Point James
Residential
MLS# 26019608 / Active
Don`t miss this beautifully remodeled 2BR/2BA home in the heart of James Island! Recent updates include luxury vinyl plank flooring throughout, fre...
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.