What is a Short sale?

 

  • A real estate short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance.
  • It typically happens when the homeowner is unable to make their mortgage payments and is at risk of foreclosure.
  • To initiate a short sale, the homeowner must negotiate with their lender and provide evidence of their financial hardship. This MUST be done with a Real Estate Agent. 
    • Short sales require a lot of paperwork, and you will need someone that is well educated in short sales to navigate you through this complicated ordeal. 
    • In a traditional sale, the sellers pay commissions. In a short sale, the lender pays the commissions. 
  • Once the lender runs the numbers and grants a short sale, the will forgive the remaining debt on the mortgage.
  • Next, the property is  listed for sale, and potential buyers make offers, which are then submitted to the lender for approval.
  • The lender may take several weeks to approve or reject the offers.
  • If a buyer's offer is accepted, the sale proceeds like a traditional home sale, and the homeowner vacates the property.
  • Short sales can also help preserve the homeowner's credit score and prevent the lender from seizing assets or pursuing legal action.
  • Contrary to popular belief, short sales are not short at all. They are quite long but it’s worth it for the home owner. 

 

***If you are in pre-foreclosure, or foreclosure, and you believe your home would qualify for a short sale, please feel free to contact me via phone, or email.

Email: courtney.lockwood@westgadreamhomes.com

Phone: 404-829-4370

If you would like to schedule a 15 minute call with me. 100% free, no obligations. Click here.

 

 

If you are in foreclosure, and need some help navigating your loan modification, please feel free to contact me.

Courtney Lockwood

Virtual Properties Realty .NET


Office:
2750 Premiere Pkwy, Suite 200, Duluth, GA, 30097
www.VirtualPropertiesRealty.com
(770) 495-5050
Agent:
courtneylockwood31@gmail.com
(407) 910-3531
(770) 495-5050
Virtual Properties Realty is comprised of three different companies with the same owners. GREC Firms: Virtual Properties Realty.COM H-31589 | Virtual Properties Realty.NET H-62748 | Virtual Properties Realty.BIZ H-45477

Home Contact Me News Blog Join our team Finding a Good Agent Preparing To Buy Your Home Finding A Property Making An Offer Finding a Home Loan Closing the Deal Down Payment Assistance Thinking of selling ? FSBO Foreclosures Brokerage Services Homestar O'Kelly & Sorohan Down Payment Assistance Short Sale Loan Modification Process What's up with Real Estate? Rent to Own

©2026 Georgia Multiple Listing Service All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Virtual Properties Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.

Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request. © 2026 First Multiple Listing Service, Inc.

©2026 Georgia Multiple Listing Service All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Virtual Properties Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.

This content last updated on Sunday, May 31, 2026 6:30 AM from GAMLS

Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request. © 2026 First Multiple Listing Service, Inc.

This content last updated on Sunday, May 31, 2026 11:18 AM from FirstMLS

Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

Properties displayed may be listed or sold by various participants in the MLS.

Franchise Offices are Independently Owned and Operated. The information provided herein is deemed accurate, but subject to errors, omissions, price changes, prior sale or withdrawal. United Real Estate does not guarantee or is anyway responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. Please verify all facts with the affiliate.
Copyright© United Real Estate
Privacy Statement
Terms Of Use

If you are using a screen reader, or having trouble reading this website, please call our Customer Support for help at 888-960-0606 .

Web Content Accessibility Disclosure Statement:

We strive to provide websites that are accessible to all possible persons regardless of ability or technology. We strive to meet the standards of the World Wide Web Consortium's Web Content Accessibility Guidelines 2.1 Level AA (WCAG 2.1 AA), the American Disabilities Act and the Federal Fair Housing Act. Our efforts are ongoing as technology advances. If you experience any problems or difficulties in accessing this website or its content, please email us at: unitedsupport@unitedrealestate.com. Please be sure to specify the issue and a link to the website page in your email. We will make all reasonable efforts to make that page accessible for you.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: Legal@UnitedRealEstate.com
The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Leave a message for Courtney

Want to take the next step?
I agree to be contacted by the Virtual Properties Realty .NET office and Courtney Lockwood for real estate services via call, email and/or text. Message frequency varies. To opt out, you can reply "stop" at any time or click the unsubscribe link in the emails. Message and data rates may apply. Reply HELP for help. View Terms of Service and Privacy Policy. If you'd like to unsubscribe click here.