Short Sales can offer a huge savings to homebuyers. Save time by checking our list of all the Short Sales listed in the Multiple Listing Service (MLS) – the database used by Realtors. The Short Sales listed are updated in real-time, so you always have access to the latest information.
To view Short Sales in Greater Fort Lauderdale / Broward County, select an option from the list in the table below. You can also search for Short Sales by using our Interactive Map or Detailed Property Search.
|Single-Family Home Short Sales||Condo & Townhome Short Sales|
|View All||View All|
|$200,000 – $500,000||$200,000 – $500,000|
|$500,000 – $1M||$500,000 – $1M|
|$1M – $2M||$1M – $2M|
|$2M – $5M||$2M – $5M|
|$5M +||$5M +|
Short Sales Defined
The term “Short Sale” is a bit of a misnomer to many, since the length of a short sale in anything but short. It is said that short sales can take between two to nine months to be completed. It is not uncommon for a homebuyer to have waited over six months only to find their offer was not accepted by the lending institution.
Essentially, short sales are real estate transactions in which the proceeds from selling property are expected to fall short of the balance owed on the property. With approved short sales, the lending institution agrees to accept an amount lower than what is owed in return for releasing the homeowner from further responsibility. In other circumstances, the homeowner may be responsible for all or a part of the shortfall of proceeds after the sale of the property.
Short sales are often used as an alternative to foreclosures because they tend to mitigate additional costs and fees to both the borrower (homeowner) and creditor (lending institution).
If you are thinking about buying or selling a short sale property, it is important that you consult a professional. There are nuances to short sale transactions and it is best that you understand your rights.
If you have questions about short sales or a home in particular, contact us.