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Short Sales

Providing Alternatives to Foreclosures in South Carolina

If remaining in your home has become unaffordable, foreclosure is not your only option. When it becomes necessary to sell your home, yet it is likely that it will not be sold at a price that will cover the mortgage debt and other liens, a short sale can offer numerous advantages over foreclosure. Short sales are a type of home sale in which:

  • The homeowner owes more money to the lender(s)/lienholders than the value of the home
  • The homeowner works with the lender(s) to sell the home
  • The homeowner is able to minimize their financial liability or deficiency due to the sale (a deficiency is the difference between the price the home sold for and the amount the homeowner owed on the mortgage note.)

Short sales offer homeowners numerous advantages over foreclosures. For instance, short sales may result in less damage to credit ratings and, unlike foreclosures, homeowners still have a large degree of control over the sale and deficiency process.

We work closely with the homeowner to collect and review the paperwork and financials required, such as: legal documents, bank statements, tax returns, income verification and hardship validation. Once document collection is complete we handle all of the document processing and correspondence with the short sale lender directly, and on behalf of the homeowner, to ensure we secure the best possible outcome to final short sale decisions. We will also assist in obtaining releases of the property for any non-mortgage judgments or liens, which may be affecting title, so that we can get to closing successfully. Weeks & Irvine, LLC will represent the homeowner in the real estate transaction from beginning all the way to closing.

The easiest way to learn more about the overall process and advantages of short sales is to contact us for a consultation.

Contact Us

For experienced legal help in the Charleston, South Carolina area, contact Weeks & Irvine, LLC. To contact us, call 843-553-9800 or 800-553-7449. All materials have been prepared for general information purposes only to permit you to learn more about our firm, our services and the experience of our attorneys. Communication by or through this website does not create an attorney-client relationship. The information presented is not legal advice, is not to be acted on as such, may not be current and is subject to change without notice.