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Title Company For Realtors & Sellers In Short Sales Across Florida

Today’s home market and home values are not what they were several years ago. Many homeowners who bought their homes not long ago did so expecting for the value to rise. With the profit from the first home, and advancement in their own employment status, many hoped for an upgrade. Unfortunately, right now, you might be experiencing the opposite. Lower property values combined with challenging economic experiences are leading many to cut their losses, and pursue a short sale.

short sales title company

A short sale is a mortgage transaction that is often sought as an alternative to foreclosure. In a short sale, the property value is less than the amount owed on the mortgage, also known as an underwater mortgage. While there are still some negative implications that go along with a short sale, it is preferable to foreclosure.

Before pursuing a short sale, it is important to be aware that the process is very complex, and it is preferable to work closely with a closing service such as Title Insurance in order to stay on top of everything. Many players are involved in the transaction, and it can take many months to complete. With short sales the lender must agree to accept a lesser amount for the home than what is owed, and at times that decision can take months. In addition to the buyer and seller, real estate firms, mortgage insurance companies, and title agents all get involved. Many different things need to be checked before a sale makes its way through the final stages. A few of these include

  • Examining the deed for liens or other issues
  • Getting a title report and verifying title insurance policies
  • Negotiations with the lender to determine an asking price
  • Staying on top of various legal documentation

With such a complex process, it’s important to work with a closing service that stay in tune with your situation, and keeps you in the loop throughout the process. At City Title Insurance, we make it out mission to keep the short sale process as smooth as possible, so that home owners can move forward with their lives. Contact us to handle all your title company closing needs regarding your short sales in Tampa, Orlando, Jacksonville, Miami and surround areas across the state of Florida.