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 (4902). Please refine your filters for better results.
233 Coral Sunset Way
Summerville, SC 29486
Shell Pointe At Cobblestone Village
Residential
MLS# 26018854 / Active
Welcome home to this spacious 5-bedroom, 3-bath home designed for comfortable living and entertaining! The thoughtfully designed floor plan feature...
120 Alexander Street
Charleston, SC 29403
Wraggborough
Residential
MLS# 26018853 / Active
Historic Downtown Charleston 1890 home w/ ADU in the Wraggborough neighborhood. Also shown in MLS as a Multi-unit under a different MLS number. Exc...
903 Butter Road
Bonneau, SC 29431
Pooshee
Residential
MLS# 26018851 / Active
Experience true waterfront living in this stunning, deep-water home on Lake Moultrie. Perfectly positioned on a spacious lot, this property offers ...
8581 Refuge Pointe Circle
North Charleston, SC 29420
The Refuge At Whitehall
Residential
MLS# 26018848 / Active
The Refuge is a quiet, secluded, upscale neighborhood that is convenient to all points of interest and is serviced by excellent schools. This home ...
111 Misty Waters Court
Summerville, SC 29483
South Pointe Estates
Residential
MLS# 26018846 / Active
Rare opportunity, where privacy, layout, and everyday convenience come together in a peaceful cul-de-sac setting. This inviting, 5 bedroom, 3.5 bat...
497 Spring Hollow Drive
Charleston, SC 29492
The Marshes At Cooper River
Residential
MLS# 26018843 / Active
Welcome to 497 Spring Hollow Drive in the highly coveted and desirable neighborhood of The Marshes at Cooper River. If you are desiring an Energy S...
38 Crosscreek Drive
Charleston, SC 29412
Crosscreek
Residential
Owner financing avaiable! Welcome to your very own lakeside home right inside the city limits! I am so incredibly excited to share this extraordina...
8754 Pasture Court
Summerville, SC 29485
Wescott Plantation
Residential
MLS# 26018840 / Active
End-unit townhome in Sunrise at Wescott Plantation in Summerville, SC. This well-maintained home offers 3 bedrooms, 2.5 bathrooms, a one-car garage...
126 Riley Farms Court
Summerville, SC 29486
Cane Bay Plantation
Residential
MLS# 26018838 / Active
Loaded with upgrades and customized Popular Fenwick II plan with finished bonus room. Don`t miss this one. Experience one level living on a premium...
Reduced -$25,000
1707 Pinckney Park Drive
Charleston, SC 29407
Stono Park
Residential
MLS# 26018837 / Active
This fully renovated, charming 1940s cottage with a detached ADU, nestled just 4 miles from downtown Charleston is the very home you have been look...
14 Brigadoon Place
Charleston, SC 29414
Shadowmoss
Residential
MLS# 26018836 / Active
Set on a sprawling, private cul-de-sac lot, this exceptional 3,406-square-foot residence offers a rare combination of a resort-style backyard with ...
708 S Laurel Street
Summerville, SC 29483
Historic District
Residential
MLS# 26018834 / Active
HISTORIC DOWNTOWN SUMMERVILLE, 708 S. Laurel Street is a charming 3-bedroom, 2-bathroom home that beautifully blends timeless character with modern...
9271 Ayscough Road
Summerville, SC 29485
Wescott Plantation
Residential
MLS# 26018831 / Active
New roof added in June 2026!! Welcome to this beautifully maintained 3-bedroom, 3-bathroom pond front home in one of Dorchester County`s most sough...
3348 Island Estates Drive
Johns Island, SC 29455
Island Estates
Residential
MLS# 26018829 / Active
Nestled behind mature native landscaping, this home doesn`t just sit on its lot - it thrives. Enjoy mature fruiting fig trees that produce sweet tr...
401 Kinloss Country Lane
Mount Pleasant, SC 29466
Charleston National
Residential
MLS# 26018825 / Active
Welcome to 401 Kinloss Country Lane. Experience easy Lowcountry living and resort-style luxury in one of Mount Pleasant`s most desirable golf cours...
1 Inlet Point Road
Edisto Island, SC 29438
Jeremy Cay
Residential
MLS# 26018822 / Active
NEVER-ENDING OCEAN & BEACH VIEWS from this Architectural Gem located at the end of a private point. Inside Exclusive Jeremy Cay, this home enjoys a...
121 Simmons Street
Mount Pleasant, SC 29464
Shemwood
Residential
MLS# 26018821 / Active
Built in 2023, this award-winning custom home by Hunter Baker Homes is located in highly desirable South Mount Pleasant with views of Shem Creek an...
134 Cooper Circle
Santee, SC 29142
Santee Cooper Resort
Residential
MLS# 26018820 / Active
Located in the gated waterfront community of Santee Cooper Resort on Lake Marion, this charming brick ranch offers the perfect blend of comfort, co...
4054 Aspera Drive
Summerville, SC 29483
The Ponds
Residential
MLS# 26018817 / Active
There is tremendous value in this move-in-ready home located in Cresswind in The Ponds. This property is absolutely perfect if you are seeking a So...
9101 Parlor Drive
Ladson, SC 29456
Tranquil Hill Plantation
Residential
MLS# 26018813 / Active
Charleston SC End Unit Townhome For Sale | 3 Bedroom 2.5 Bath | Dorchester District Don`t miss this rare end-unit townhome for sale in Charleston, ...
8867 Salamander Road UNIT Unit 57
North Charleston, SC 29406
Pinckney Place
Residential
MLS# 26018811 / Active
Welcome to the Ross plan - a spacious new home with all appliances included and builder warranty. Enter through the foyer, passing a powder bath an...
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 07-12-2026 7:01 AM 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.