Short Sales: Frequently Asked Questions
By Sherry Roberts
(South Beach Boutique Realty)
The Miami Beach real estate market is pocked with short sales. Besides the question “what is a short sale?” some of the most frequently asked questions from Miami Beach buyers and sellers often go unanswered by the Miami Beach real estate professional community. Short sales are when highly motivated sellers accept less than what is owned on a Miami Beach property either to appease banks interests or to lessen the mortgage burden of a distressed homeowner. Now that the initial question is cleared up what other frequently asked questions about short sales in Miami Beach can be answered? What do short sales in Miami Beach do to a seller’s credit? A Miami Beach short sale is more favorable than a foreclosure. While a credit report will show that a Miami Beach seller’s mortgage debt was paid...