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 (4918). Please refine your filters for better results.
222 Fiddie Street
Ladson, SC 29485
Residential
MLS# 26018112 / Active
Property sits in Summerville, a rare find of acreage! the home needs a little TLC and has a mancave, as well as storage. Partially fenced in and pa...
1236 Carriage Wood Circle
Ridgeville, SC 29472
Residential
MLS# 26018105 / Active
JUST RELEASED - Grand Opening at Crossing at Givhans by Starlight Homes! Be among the first to secure the best homesites and take advantage of limi...
1229 Carriage Wood Circle
Ridgeville, SC 29472
Ridgeville
Residential
MLS# 26018104 / Active
JUST RELEASED - Grand Opening at Crossing at Givhans by Starlight Homes! Be among the first to secure the best homesites and take advantage of limi...
88 Blue Jasmine Lane
Summerville, SC 29483
Scotts Mill
Residential
MLS# 26018100 / Active
Unlock unmatched equity and ultimate peace of mind with the absolute best value, lowest-priced turnkey opportunity in the entire neighborhood! Phot...
427 Dogwood Circle
Summerville, SC 29485
Twin Oaks
Residential
MLS# 26018097 / Active
Twin Oaks is an older and well-settled neighborhood that is convenient to all points of interest and necessity. Tree lined and shaded streets meand...
112 Cartright Street
Charleston, SC 29492
Daniel Island
Residential
MLS# 26018094 / Active
Welcome to 112 Cartright St. a charming 3-bed, 2.5-bath home in the heart of Daniel Island`s Southside. A welcoming foyer opens to a cozy living ro...
276 Whirlaway Drive
Moncks Corner, SC 29461
The Paddock At Fairmont South
Residential
MLS# 26018091 / Active
This gorgeous white farmhouse with black accents offers open-concept living, a spacious kitchen, and a private backyard with no rear neighbors. Bui...
Reduced -$4,000
1453 Cypress Court
Mount Pleasant, SC 29466
East Crossing
Residential
MLS# 26018090 / Active
Set on a peaceful cul-de-sac in Mt. Pleasant, 1453 Cypress Court offers buyers a truly move-in ready opportunity. This 2-bedroom, 2-bathroom home h...
86 Peppertree Lane
North Charleston, SC 29420
Pepperidge
Residential
MLS# 26018089 / Active
Calling All Investors! 86 Peppertree Lane is ready for a makeover/renovation. It`s located in the Pepperidge Subdivision! Home features two separat...
7532 Indigo Palms Way
Johns Island, SC 29455
Indigo Hall At Hope Plantation
Residential
Welcome to Indigo Hall, where refined design and effortless Lowcountry living come together in this brand-new residence. Thoughtfully designed with...
37 Seagrass Lane
Isle of Palms, SC 29451
Wild Dunes
Residential
MLS# 26018086 / Active
Behind the gates of Wild Dunes Resort in the highly sought-after Out Islands section, 37 Seagrass Lane offers an extraordinary opportunity to exper...
8800 Dorchester Road UNIT Unit 201
North Charleston, SC 29420
Villas At Charleston Park
Residential
MLS# 26018084 / Active
One floor ranch villa. Maintenance free living. @/2 bath wood floors Upgrades attached two car garage and patio with partial fence. Close to shoppi...
205 Confederate Street
Summerville, SC 29485
Residential
MLS# 26018082 / Active
Tucked beneath the trees on over an acre in Summerville, this property offers the kind of space and privacy that`s getting harder to find. With 4 b...
1083 Bennington Drive
Charleston, SC 29492
Cain Crossing
Residential
MLS# 26018081 / Active
Beautiful Townhouse in Cain CrossingNestled in the convenient Cain Crossing community, this beautifully maintained townhouse blends comfort, style,...
1181 Old Hwy 6
Cross, SC 29436
Residential
MLS# 26018080 / Active
Country living meets modern comfort on nearly 6 acres just 3 minutes from Lake Moultrie! This beautiful property features a 2022 Southern Farmhouse...
162 Spring Street UNIT E
Charleston, SC 29403
Cannonborough-Elliotborough
Residential
MLS# 26018076 / Active
Welcome to 162 Spring Street, Unit E -- where timeless Charleston character meets the comfort and ease of new construction. This detached 4-bedroom...
914 Ocean Boulevard
Isle of Palms, SC 29451
Residential
MLS# 26018075 / Active
Welcome to Casa Banana, one of Isle of Palms` most recognized oceanfront properties. Ideally positioned on a prime stretch of Ocean Boulevard just ...
162 Spring Street UNIT D
Charleston, SC 29403
Cannonborough-Elliotborough
Residential
MLS# 26018073 / Active
Step into timeless Charleston charm blended seamlessly with modern comfort at 162 Spring Street, Unit D. This 4-bedroom, 3-bathroom detached home o...
162 Spring Street UNIT B
Charleston, SC 29403
Cannonborough-Elliotborough
Residential
MLS# 26018070 / Active
Turnkey Charleston Condo, steps away from everything! There`s a reason Cannonborough-Elliotborough keeps showing up on every ``best of Charleston``...
162 Spring Street UNIT A
Charleston, SC 29403
Cannonborough-Elliotborough
Residential
MLS# 26018063 / Active
Fully furnished Short Term Rental, well under $1million downtown Charleston! Welcome to 162 Spring Street, Unit A, where location, charm, and flexi...
805 Andrea Lane
Hanahan, SC 29410
Otranto Station
Residential
MLS# 26018061 / Active
Downstair flat, 2 bedrooms, 2 full baths & back patio. Primary bath has remodeled shower & vanity area. Unit has new luxury vinyl plank flooring, n...
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 07-10-2026 6:27 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.