We’ve answered this before but we did want to update what a short sale is in Georgia just to be clear. After all it’s been 4 years of short sales in Georgia. The definition is still pretty much the same:
After 3+ years of short sales, one of the most common questions is what is a short sale. Afterall, if you haven’t been looking for a home or faced with selling your home, you might not be aware of what a short sale is.
So What is a Short Sale?
A Short Sale is basically where an owner of a property sells their property for what is less than is owed to the bank. The seller’s lender(s) essentially lower their payoff (the amount owed) to allow the short sale to happen.
Some keys that most people miss:
The loss mitigation department is the department of the bank that negotiates the short sale among other things Each bank is different but for the most part, the loss mitigation department is separate from the foreclosure department or even the collections department. These departments aren’t just separate from each other, they are often in different states, or in some cases different countries!
Jarvis Team Realty is the premeire short sale specialist team in Gwinnett County and greater Atlanta. Unlike other teams, we work short sales from start to finish with our own team, including an attorney, title specialist and negotiators (along with real estate agents). 
