When Short Selling My Home, Who Is The Seller?


Who is the Seller when entering into a contract for the sale of a home as a “short sale”? Is it the homeowner? Is it the mortgage holder, the lender? This can be confusing.

I always discuss this issue, from the very beginning of meeting with our clients who have a home that they are or are considering, selling as a short sale. It is reasonable to think the Seller would be your lender-your mortgage holder because you are asking your lender to agree to a purchase price that will result in the lender taking less as a payoff of the mortgage than is owed. Right?

No. The Seller in a short sale contract, in most cases, will be the legal owner of the property and not the mortgage company or lender. Therefore, the legal owner will be agreeing to the terms of the contract to purchase with a contingency included of the existing lender(s) approval of the short sale. But, the Seller still remains you, the legal owner.

If you don’t know what to do if  you are falling behind on your mortgage payments or you are currently facing foreclosure of your Kansas City home, Kansas or Missouri, please continue to read the upcoming posts and Request a Free Confidential, no obligation, analysis of your home and options that may be available to you to help reduce the burden you may have.

(There are potential tax consequences that should be discussed with a tax professional.  Please do not interpret this information as providing legal, tax or other professional advice which you should seek independently.

Kansas and Missouri Short Sale real estate agent having successfully closed short sales with Bank of America, Chase, Citi, US Bank, Wells Fargo, BBT, and more.

Suzanne Hinton
Hinton Group-Affiliated with ReMax Premier Realty
Phone: 816-520-0917
Email: shinton@remax.net
Licensed in Kansas and Missouri

©2011 Suzanne Hinton-Hinton Homes-Kansas City Short Sale Realtor
Kansas City Short Sales

Image: David Castillo Dominici / FreeDigitalPhotos.net


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