X

The real estate industry has been throwing around the term "short sale" as if it is common knowledge because it has become a common scenario.

Short sale refers to a sale where the owner of the home needs to sell, but owes more than their home is worth. In other words, the balance on their mortgage plus the cost to sell is more than the buyer's in the current market are willing to pay.

Before the owner can sell their home, they must obtain permission from the bank or banks that have liens on the property. Many circumstances cause the seller to be in this situation, i.e. job loss, job transfer, death in the family, health issues, etc. In general, the homeowners are in a predicament that cannot be resolved easily.

  • Long Process that can take many months.
  • Expect delays and no responses.
  • No guarantees.

If Buying...

    Lower average sale price. Condition of the home may be worse as the owners may have had to defer maintenance. "Hurry up and wait!" will be your motto.

If Selling...

  • Avoid foreclosure.
  • Credit is affected less.
  • Relief from monthly payments.
  • Relief from pending maintenance.
Powered by Preview Properties, LMS, Inc.
Primary Listing Image for MLS#: 641163
  • 19516 131st Place NE Granite Falls, WA 98252
  • Status:Pending BU Requested
  • Type: Single Family Home , Manufactured Home
  • Bedrooms:3
  • Bathrooms:2.0
  • SQFT: 1,178
  • Year Built:2007
  • View:Yes

RE/MAX Eastside Brokers, Inc.
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 912014
  • 80 G Mukilteo Wy Hat Island, WA 98206
  • Status:Active
  • Type: Single Family Home
  • Bedrooms:2
  • Bathrooms:1.0
  • SQFT: 816
  • Year Built:1986

CENTURY 21 North Homes Realty
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1092700
  • 1959 NW Sherman Hill Rd Poulsbo, WA 98370
  • Status:Pending BU Requested
  • Type: Single Family Home , Manufactured Home
  • Bedrooms:3
  • Bathrooms:2.0
  • SQFT: 1,440
  • Year Built:1977

RE/MAX Eastside Brokers, Inc.
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1249037
  • 26 View Place Hat Island, WA 98206
  • Status:Pending BU Requested
  • Type: Single Family Home
  • Bedrooms:2
  • Bathrooms:1.5
  • SQFT: 1,498
  • Year Built:1991
  • View:Yes

Lumin Brokers
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1239597
  • 21628 47th St SE Snohomish, WA 98290
  • Status:Pending-Short Sale
  • Type: Single Family Home
  • Bedrooms:2
  • Bathrooms:1.0
  • SQFT: 1,352
  • Year Built:1992

John L. Scott Lake Stevens
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1249011
  • 9519 4th Ave NW Seattle, WA 98117
  • Status:Pending BU Requested
  • Type: Single Family Home
  • SQFT: 1,780
  • Year Built:1942

Lumin Brokers
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 610534
  • 21825 49th Ave SE Bothell, WA 98021
  • Status:Pending-Short Sale
  • Type: Single Family Home
  • Bedrooms:4
  • Bathrooms:2.75
  • SQFT: 3,024
  • Year Built:1968

RE/MAX Metro Realty, Inc.
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1230500
  • 19010 46th Ave NE Arlington, WA 98223
  • Status:Pending Inspection
  • Type: Single Family Home
  • Bedrooms:4
  • Bathrooms:2.0
  • SQFT: 1,776
  • Year Built:2004
  • View:Yes

Core Realty Group
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1231615
  • 416 96th Ave SE Lake Stevens, WA 98258
  • Status:Pending-Short Sale
  • Type: Single Family Home
  • Bedrooms:4
  • Bathrooms:2.75
  • SQFT: 1,528
  • Year Built:1994

John L. Scott Lake Stevens
Listing Courtesy: NWMLS
Primary Listing Image for MLS#: 1173315
  • 10726 Stone Ave N #A Seattle, WA 98133
  • Status:Pending
  • Type: Single Family Home , Townhouse
  • Bedrooms:3
  • Bathrooms:2.0
  • SQFT: 1,148
  • Year Built:1997

Realty One Group Eastside
Listing Courtesy: NWMLS