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Tuesday, May 22, 2012

What You Need to Know About Short Sales

Short sales in real estate is a arduous process both for all parties involved, especially the home owner. In simplest terms, a short sale is when the homeowner falls short and no longer is able to make payments on the  liens against the property. So, the lien holders, often times a bank, will release the lien on the real estate property and allow the property to be sold at less than what was owed.

Banks have the right to grant a homeowner the option of a short sale if they deem it beneficial to them. Otherwise, the homeowner may find him or herself in a foreclosure situation. 

Generally speaking, for a short sale strategy to work, the following must be present: 

  • An underwater home
  • A willing short sale bank
  • A seller with a hardship
  • A buyer willing to purchase the home

If find yourself in a short sales situation and live in the Memphis, TN area, look no further than the Carstensen Team. The Carstensen Team is a real estate team located in Memphis, Tennessee and serving all of Shelby County, including: Collierville, Bartlett, Lakeland, Arlington, East Memphis, Midtown, Germantown, Harbor Town, and Cordova. The Carstensen Team specializes in shorts sales and foreclosures.

If you are sick and tired of wading through pages of search results when you look for houses to buy, call the Carstensen Team right way. The Carstensen Team can handle your real estate search for you, showing you only the homes that meet your qualifications.

If you are only looking to buy short sales, that is not a problem for the Carstensen Team. They will be happy to show you many short sale homes. Remember, when purchasing a short sale home, not only are you getting a good deal, but you are also helping the buyer avoid a foreclosure mark on their record. It is a win-win situation for everyone involved, and that is the type of thing the Carstensen Team likes to make happen all across Shelby County.

It is easy to find a short sale today with the help of the Carstensen Team. For more information, please visit us at

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