At RealMarkets, we pride ourselves on the way we market what we sell.
Short Sales Process Management
You never know when "life happens" and you find yourself in a situation where you can't sell your residential or commercial property because you owe more than the property is worth. When this happens, call RealMarkets. We have extensive experience selling properties through the short sale process. Managed by Robert Walters, Rob will help you navigate the short sale approval process and, if necessary, introduce one of our professional partners into the process, if needed, to help manage a successful transaction.
Bankruptcy Short Sale Process Management
We also manage short sales for Bankruptcy Trustees. In this situation, the Debtor that filed for Chapter 7 owes more money than the property is worth and they have no ability to bring the mortgage current. A Chapter 7 bankruptcy trustee is appointed to sell all eligible property to produce funds from which to pay unsecured creditors. All bankruptcy sales, including sales of real estate, require a court order approving the sale. Trustees incur costs associated with obtaining that approval, including attorney's and accounting fees associated with drafting, filing and serving relevant court papers, and preparing for and attending the related hearings required by the bankruptcy court. For this reason, Trustees can only sell the property if it results in a “meaningful” distribution to the unsecured creditors of the borrower. The word “meaningful” is a flexible term and the amount is often based upon the trustee’s judgment but in all cases must be approved by the bankruptcy court. Our team has navigated the short sale process for bankruptcy trustees many times, resulting in hundreds of thousands of dollars recovered for unsecured creditors. While the process can take 3 to 6 months to complete, it often results in a successful transaction for all parties involved.
Success with Short Sales
RealMarkets has successfully negotiated commercial or residential short sales with the following mortgage companies, banks and loan servicers: