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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3 Photos 1523 Homecoming Boulevard Ravenel, SC 29470

1523 Homecoming Boulevard
Ravenel, SC 29470
Homecoming
Residential

MLS# 24004946 / Active
3 br, 3 ba, 2800 Sqft

This 3 bedroom, 3-bathroom haven seamlessly marries high-style design with the tranquility of nature. This brand-new construction features an open-... 

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$495,000
Provided courtesy of Keller Williams Realty
10 Photos 5838 Beverly Drive Hanahan, SC 29410

5838 Beverly Drive
Hanahan, SC 29410
Forest Hills
Residential

MLS# 24004945 / Active
3 br, 1 ba, 1 Half Bath, 1296 Sqft

Good opportunity to purchase, renovate, and flip. There's a great deal of development in the area. Located in flood zone X. HVAC was replaced appro... 

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$179,000
Provided courtesy of The Boulevard Company, LLC
35 Photos 404 Pompano Street Edisto Island, SC 29438

404 Pompano Street
Edisto Island, SC 29438
Residential

MLS# 24004933 / Active
4 br, 3 ba, 2046 Sqft

AS-IS!!! 3rd row home w/ ocean views tucked away on Pompano St. 4BR/3BA w/ screened porch, 2 sun decks, covered parking & 2 storage rooms below.Bea... 

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$979,000
Provided courtesy of Edisto Sales & Rentals Realty
18 Photos 138 Old Grand St Summerville, SC 29485

138 Old Grand St
Summerville, SC 29485
Summers Corner
Residential

MLS# 24004930 / Active
4 br, 2 ba, 1 Half Bath, 1986 Sqft

The Sweetgrass, due to be completed in April! Located in the Heron's Walk section of Summer's Corner! Beautiful 4 bedroom 2.5 bath home - this lot ... 

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$368,165
Provided courtesy of Lennar Carolinas, LLC
31 Photos 1964 Longhorn Ln Summerville, SC 29485

1964 Longhorn Ln
Summerville, SC 29485
Summers Corner
Residential

MLS# 24004929 / Active
4 br, 2 ba, 1 Half Bath, 2196 Sqft

The Primrose! Our newest model home! This home is located in the Sweetgrass section of Summers Corner! Offering 4 bedrooms and 2.5 bathrooms, and a... 

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$355,415
Provided courtesy of Lennar Carolinas, LLC
3 Photos 213 Mitton Road Moncks Corner, SC 29461

213 Mitton Road
Moncks Corner, SC 29461
Kitfield Westend Mitton Road
Residential

MLS# 24004927 / Active
2 br, 1 ba, 576 Sqft

GREAT INVESTMENT OPPORTUNITY in the heart of Moncks Corner. Plenty of room for rental income for this 2 bedroom 1 bath fixer upper. Great locaiton.... 

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$65,000
Provided courtesy of Carolina One Real Estate
36 Photos 551 Sound Drive Summerville, SC 29486

551 Sound Drive
Summerville, SC 29486
Nexton
Residential

MLS# 24004914 / Active
4 br, 3 ba, 1737 Sqft

A stunning one story home with ADU over large 2 car garage. This home is light and bright with elegant design and incredible options. Wanting a gue... 

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$619,990
Provided courtesy of Ashton Charleston Residential
61 Photos 615 Calabash Court Summerville, SC 29483

615 Calabash Court
Summerville, SC 29483
Reminisce
Residential

MLS# 24004913 / Active
3 br, 2 ba, 1520 Sqft

This lovely ranch home is nestled on a cul-de-sac in the beautiful neighborhood of Reminisce and is zoned for the highly sought after Dorchester 2 ... 

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$345,000
Provided courtesy of Jeff Cook Real Estate LPT Realty
37 Photos 223 Candleberry Circle Goose Creek, SC 29445

223 Candleberry Circle
Goose Creek, SC 29445
Crowfield Plantation
Residential

MLS# 24004910 / Active
3 br, 2 ba, 1 Half Bath, 1920 Sqft

Welcome to your charming home in the highly sought-after Crowfield Plantation subdivision, ideally situated less than 30 minutes from Charleston an... 

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$359,000
Provided courtesy of The Real Estate Firm
12 Photos 157 Southwold Circle Goose Creek, SC 29445

157 Southwold Circle
Goose Creek, SC 29445
Crowfield Plantation
Residential

MLS# 24004907 / Active
3 br, 2 ba, 1816 Sqft

Wonderful brick home in desirable area of Crowfield! The house is nicely situated on a large lot, with much to offer a new buyer. There are 3 bedro... 

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$359,900
Provided courtesy of AgentOwned Realty Co. Premier Group, Inc.
31 Photos 414 Water Orchid Way Moncks Corner, SC 29461

414 Water Orchid Way
Moncks Corner, SC 29461
Cypress Preserve
Residential

MLS# 24004905 / Active
4 br, 2 ba, 1 Half Bath, 2591 Sqft

The Evans of the Arbor Series---The home has 4 bedrooms, 2.5 baths with a loft--open design perfect for entertaining 

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$415,653
Provided courtesy of Lennar Carolinas, LLC
13 Photos 416 Water Orchid Way Moncks Corner, SC 29461

416 Water Orchid Way
Moncks Corner, SC 29461
Cypress Preserve
Residential

MLS# 24004904 / Active
5 br, 3 ba, 1 Half Bath, 2811 Sqft

fanning Bestimated closing May 

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$433,738
Provided courtesy of Lennar Carolinas, LLC
75 Photos 3562 Clambank Drive Mount Pleasant, SC 29466

3562 Clambank Drive
Mount Pleasant, SC 29466
Carolina Park
Residential

MLS# 24004898 / Active
5 br, 4 ba, 1 Half Bath, 3118 Sqft

Breathtaking views await you in this BRAND NEW ready for move-in home located in one of Mt. Pleasant's most sought-after neighborhoods - Riverside ... 

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$1,896,625
Provided courtesy of Lennar Carolinas, LLC
59 Photos
Open House: Sun Mar 3rd, 2:00pm - 4:00pm
9649 Brandishing Road Ladson, SC 29456

9649 Brandishing Road
Ladson, SC 29456
Mckewn
Residential

MLS# 24004889 / Active
4 br, 2 ba, 1 Half Bath, 2397 Sqft

Welcome Home!! This GORGEOUS home is located in the highly desirable Mckewn subdivision. The floorplan features an open concept living space, Large... 

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$410,000
Provided courtesy of RE/MAX Cornerstone Realty
12 Photos 1295 Mathis Ferry Mount Pleasant, SC 29464

1295 Mathis Ferry
Mount Pleasant, SC 29464
Parish Place
Residential

MLS# 24004884 / Active
2 br, 1 ba, 1 Half Bath, 950 Sqft

This 2 bedroom, 1 & 1/2 bath condo in beautiful Mt. Pleasant has been newly renovated! New updates include: New LVP on entire first floor and new c... 

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$400,000
Provided courtesy of EXP Realty LLC
70 Photos 155 Botany Bay Blvd Boulevard North Charleston, SC 29418

155 Botany Bay Blvd Boulevard
North Charleston, SC 29418
Archdale
Residential

MLS# 24004883 / Active
4 br, 2 ba, 1 Half Bath, 2518 Sqft

Spacious home with nice ""Curb Appeal"" on corner lot. Large front yard with beautiful ""Live Oak"" tree with under-ivy. Very quiet neighborhood th... 

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$495,890
Provided courtesy of Commercial Specialty Group
16 Photos 4442 Kindlewood Drive Ladson, SC 29456

4442 Kindlewood Drive
Ladson, SC 29456
Woodside Manor
Residential

MLS# 24004882 / Active
3 br, 1 ba, 1050 Sqft

Welcome to this adorable 3 bedroom, 1 bath home nestled on an oversized .22 acre lot with no Home Owners Association. The beautifully updated moder... 

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$254,000
Provided courtesy of The Boulevard Company, LLC
24 Photos 192 Ashley Avenue UNIT C Charleston, SC 29403

192 Ashley Avenue UNIT C
Charleston, SC 29403
Radcliffeborough
Residential

MLS# 24004880 / Active
1 br, 1 ba, 1037 Sqft

Don't miss your opportunity to preview this charming 3rd floor condo. unit located in the Beauregard House circa 1840. Featuring a light-filled, op... 

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$575,000
Provided courtesy of The Boulevard Company, LLC
26 Photos 107 Hawthorne Landing Drive Goose Creek, SC 29445

107 Hawthorne Landing Drive
Goose Creek, SC 29445
Hawthorne Landing
Residential

MLS# 24004876 / Active
3 br, 2 ba, 1 Half Bath, 1987 Sqft

Welcome to this stunning, fully furnished model home that has been professionally designed with impeccable taste. Step inside and be greeted by an ... 

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$449,900
Provided courtesy of Toll Brothers Real Estate, Inc
6 Photos 350 Bering Lane Summerville, SC 29486

350 Bering Lane
Summerville, SC 29486
Cane Bay Plantation
Residential

MLS# 24004871 / Active
3 br, 2 ba, 1339 Sqft

Located within desirable The Meridian of Cane Bay Plantation. Everything you're looking for is in this neighborhood. Meridian offers a neighborhood... 

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$380,000
Provided courtesy of Carolina Elite Real Estate
45 Photos 175 Darby Meadows Lane Ridgeville, SC 29472

175 Darby Meadows Lane
Ridgeville, SC 29472
Timothy Lakes
Residential

MLS# 24004868 / Active
3 br, 2 ba, 1 Half Bath, 2325 Sqft

This beautiful home nestled on .33 acres in Timothy Lakes featuring a stunning back yard complete with privacy fence is like new! Just purchased la... 

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$459,000
Provided courtesy of Carolina One Real Estate
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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 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 02-27-2024 11:53 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 2024 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2024 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 02-27-2024 11:53 PM EST est.

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Hey there, thanks for reaching out!
Are schools important to you?
When do you need us?
Your general price point?
Don’t worry... this is not set in stone :)
Want to add a note?
EXPLORE CHARLESTON ON YOUR OWN
Call: 843.708.4488