Field Guide to Short Sales (NAR Information Central)

Field Guide to
Short Sales


By Anne-Marie Siudzinski, Information Specialist

Questions or comments about this page?
NAR's Information Central is just a click away.

Have an idea for a new Field Guide? Click here to send us your suggestions!

 

Add to del.icio.us


C O N T E N T S

Short Sales Basics

Working with Short Sales

Books, eBooks & Other Resources

What is a short sale? "A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan," according to the California Association of REALTORS®. "A short sale may or may not involve a property in foreclosure." This page offers information about the basics of short sales and advice for the real estate professional.

WHAT'S THE PASSWORD?

- Articles marked with a red Q are provided by ProQuest for NAR members only. Please enter NAR's Proquest password if required.

- Articles marked with the REALTOR® "R" are available on Realtor.org. Your Realtor.org ID and password may be required.


Short Sales Basics

After the short sale: taxing what isn't there, (REALTOR® Magazine Online Exclusives, November 2007)

How to work in foreclosures and short sales, (Florida REALTOR®, November 2007).

Housing Counsel: What's a Short Sale, (Realty Times, September 16, 2007).

Rescue sellers with short sales, (Florida REALTOR®, September, 2007).

Short sales set sail again, (Realty Times, Apr. 9, 2007).

Short sales might cure U.S. housing slump, (REALTOR® Magazine Daily News, Mar. 21, 2007).

The new exit strategy: A short sale, (Business Week, Mar. 5, 2007).

Short sale may be an option when mortgage debt looms too large, (Real Estate Journal, Feb. 19, 2007).

Family Finances: 'Short Sales' rise as housing market cools, (Wall Street Journal, Feb. 18, 2007).

Mortgage lenders seek ways to avoid foreclosure, (REALTOR® Magazine Daily News, Jan. 24, 2007).

REALTORS®, investors should partner to solve problems, (Business First of Columbus, Mar. 3, 2006).


Short Sale Advantages


Short sales appear on your credit report as "pre-foreclosure in redemption", not as "debt discharged due to foreclosure"

Less impact on your credit score

All mortgage debt is fully discharged

Source: Dual upside to foreclosure alternative, (The Early Show (CBS), June 21, 2007).

   


Working with Short Sales

How to succeed at short sales, (REALTOR® Magazine Online Exclusives, June 2007).

Short sales; This alternative may help a home owner avoid foreclosure, but it requires patience from all parties., (Texas REALTOR®, Apr. 2007).

Short sales, (Rain City Guide, Mar. 5, 2007).

Short sales and foreclosures make way into market, (Realty Times, Feb. 14, 2007).

How to do a short sale, (homebuying.about.com, 2007).

Short sales: Warning! You gotta know when to fold 'em..., (In Contract Magazine, Nov. 2006).







Books, eBooks & Other Resources


eBooks.realtor.org


The following ebooks, article and digital audiobooks are available to NAR members.

Make money in short-sale foreclosures (Adobe eReader)

Cash in on the coming real estate crash (Adobe eReader)

Buying real estate foreclosures (Adobe eReader)

How to make money on foreclosures (Adobe eReader)

Quick cash in foreclosures (Adobe eReader)







Books, Videos, Research Reports & More


The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.

Make money in short-sale foreclosures, (New York, NY: Wiley, 2006). HG 4521 C18mm

Amid slowdown, "short sales" pose opportunity, (Real Estate Broker's Insider, June 15, 2007, pp. 1-4).






Other Field Guides & Power Tools


These Field Guides and Power Tools resources in the Virtual Library may also be of interest:

Field Guide to Foreclosures




The material on this page is presented by
NAR's Information Central.



Updated July 2007


Need Help?


Visit the Realtor.org Customer Support page, chat with us online, or call NAR's Information Central at 1-800-874-6500.




The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.