Short Sales – How they work, how to qualify, and the role of a short sale attorney in Tampa, Florida

Short SalesA short sale is the process by which a mortgage lender agrees to sell a property for less than the original loan amount.

Unlike foreclosures, a lender does not force a short sale.

Instead, the lender and homeowner sell a property at an agreed price.


Short sales release homeowners from their mortgage obligations in a manner which avoids foreclosure proceedings and reduces impact to the homeowner’s credit.

Our attorneys evaluate each homeowner’s mortgage situation and develop a personalized approach to the situation.

How does a short sale work?

Here at Fernandez Law Group, we make the short sale process extremely easy. First, we start with a Free Consultation. This gives you the opportunity to come in risk free and under no obligation. After you provide us some information about your situation, we then help you determine whether or not you qualify for a short sale.

* If you do not qualify for a short sale, relax – there are other foreclosure defense alternatives or you may qualify for a loan modification – and we will help you determine the best course of action.

Once it is determined that you qualify or are eligible for a short sale, then we will work with a real estate agent to help market and sell your home.

* The majority of short sale transactions with banks require the use of a real estate agent, therefore, putting the home up “for sale by owner” is typically not permitted.

The mortgage company will also be working closely with us along with the real estate agent during the process.

* When you choose a law firm to help with the short sale process, you can rest easy knowing that your best interests are being served as we work with the bank and the real estate agents for you – and in most cases, you will receive a better outcome when hiring an experienced foreclosure law firm.

As a general rule, the short sale process will unfold as follows:

  • Sale price of the home will be set based on the current market values
  • Financial information will be collected
  • Negotiations with lien holders takes place
  • Any reasonable offers on the property will be reviewed
  • The buyer will typically be the one who makes the highest offer
  • Terms of the sale will be agreed upon between the parties
  • Finalization of the sale between buyer’s real estate agent and the mortgage lender takes place.

During the short sale process, Fernandez Law Group will provide the following services:

  • Conduct a detailed evaluation of your particular situation during the application process, and assist you in gathering all information required for your case.
  • Perform a comparative market analysis to determine the approximate fair market value of your property in the current market and determine what, if any amount of deficiency would remain upon completion of the short sale.
  • Contract a realtor in your area and submit your property for listing immediately.
  • Manage offers between the homeowner, real estate agent, and lender.
  • Handle all negotiations and documentation with your lender(s) to obtain approval for the short sale and options for minimizing residual deficiency liability.
  • Provide title insurance for your short sale and conduct closing.

Additional information on Short Sales:

Call us today at 813-489-3222 for a FREE consultation.



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Content authored by Google+ icon Gaston Fernandez

Note to visitors:

Foreclosure Defense Attorney is a sub-site of Fernandez Law Group with a focus on providing solutions for homeowners who are facing foreclosure in Tampa.

Fernandez Law Group also provides Tampa Personal Injury Attorneys, Criminal Defense Attorneys in Tampa, and Family Law Attorneys in Tampa and you can visit our lawfirm’s main website at


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