List for Sale Now
Get started by answering a few questions.
A licensed Realtor will respond to your inquiry and set up an appointment at a convenient time to explain the benefits of listing your home for sale with Midas Realty Group. More
Probate and Trust Sales
Probate attorneys, and those requiring an efficient, trouble free asset sale list with Midas.
Trustees are often overwhelmed with handling matters of an estate. We take of the real estate, so they can focus on other needs.More
Short Sale Services
We go above and beyond for our short sale clients to make a difficult process easier.
When mortgage payments become unmanageable, we evaluate a homeowner's situation and discuss options with them. More
Short Sale Frequently Asked Questions
What is a Short Sale?
A short sale is a
real estate transaction whereby the current lender(s) agree to
allow the owner to sell the property for an amount less than the
current mortgage.
In a short sale, the lender agrees to settle
the debt owed on the property for less than ("short of") the full amount.
In most cases, “settled” means that the lender is writing off the debt
(which is why you get a 1099 after a short sale for the
amount of debt forgiven) and that they are not going to go
after you for the money they lost by filing a deficiency
judgment in the future.
Can any agent do a short sale?
Absolutely not. Many agents have no interest
in doing short sales because they require a tremendous
amount of time and expertise, and if you do not know what
you are doing, they often go to foreclosure and then the
agent does not get paid. If an agent is not extremely
experienced at doing short sales then you may not want
to use them.
In every
market, there are agents who specialize in short sales and
have a team of staff members assembled to work on them, and
then there are agents who are inexperienced at short sales
and just recently started trying to do them, learning as
they go, because they’ve realized they have no choice due to
the state of current market.
You get one shot at doing a short sale – if your agent does
not know what they are doing and has not learned the many
tricks to the trade, you will likely find yourself being
asked to sign a promissory note or worse, be denied by your
lender or lenders and go to foreclosure.
In other words, let the inexperienced agents and/or
attorneys learn the short sale process on someone else’s
property – as the saying goes, don’t allow yourself to be
one of the surgeon’s first patients.
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