Short Sales
Underwater? We negotiate with your lender to stop the bleeding.
How Short Sales Works
When you owe more on your mortgage than your property is worth, Quelark works directly with your lender to negotiate a sale at a price below the loan balance. This can help you avoid foreclosure, minimize credit damage, and move forward.
Is This Right For You?
- Homeowners underwater on their mortgage (owe more than the home is worth)
- Sellers facing imminent or active foreclosure
- Owners with hardship (job loss, medical bills, divorce) who cannot continue payments
- Anyone who has been unable to sell traditionally due to loan balance
The Process
- You provide your current mortgage statement, hardship letter, financials, and property details.
- Quelark submits a short-sale package to your lender and negotiates on your behalf.
- The lender's loss-mitigation department reviews and counters or approves our proposed price.
- Once approved, we close on the property; the lender accepts the short-pay as satisfaction of the debt; you walk away owing nothing further.
Why Sellers Choose This Strategy
Avoid Foreclosure
A short sale hurts credit far less than a foreclosure and is recoverable in 2-3 years.
Debt Forgiveness
In most cases, the lender forgives any remaining shortfall once the sale closes.
Relocation Assistance
Some lenders offer $3,000-$10,000 relocation assistance as part of approved short sales.
Fresh Start
Walk away from an underwater asset and rebuild, instead of years of collections and damaged credit.
Common Questions
How long does a short sale take?
Typically 60-120 days, depending on the lender's loss-mitigation workload and responsiveness. We push hard to minimize delays.
Will I owe taxes on forgiven debt?
Sometimes. The Mortgage Debt Relief Act and various state rules may exempt forgiven primary-residence debt. Always confirm with your CPA.
Does this affect my credit?
Short sales typically drop a credit score 50-150 points, compared to 200-300 for a foreclosure. Recovery is also significantly faster.
Is this legal and approved by my lender?
Yes. Short sales are a recognized loss-mitigation tool. They require full, documented approval from your lender before closing.
Important Note
This page is educational and describes how Quelark typically structures Short Sales transactions. Actual terms depend on your property and situation. This is not legal, financial, or tax advice — always consult a licensed attorney and CPA before signing any real estate agreement.
Ready to Explore Your Options?
We'll make you a fair, no-obligation offer within 48 hours. Tell us about your property and let's find the best solution together.