{"id":1516,"date":"2024-08-15T01:04:41","date_gmt":"2024-08-15T01:04:41","guid":{"rendered":"https:\/\/lrgrealty.com\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/"},"modified":"2026-06-12T05:15:53","modified_gmt":"2026-06-11T23:15:53","slug":"2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers","status":"publish","type":"post","link":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/","title":{"rendered":"Understanding Short Sales: A Guide for Homebuyers and Sellers"},"content":{"rendered":"<div class=\"rl-page rl-page-lrg\">\n<div class=\"rl-wrap\">\n<header class=\"rl-hero\">\n<div class=\"rl-eyebrow\">Process \u00b7 Guide<\/div>\n<h1>Understanding Short Sales A Guide For Homebuyers And Sellers<\/h1>\n<p><a class=\"rl-cta-primary\" href=\"\/lrg-blog\/connect-with-lrg\/?ref=understanding-short-sales-a-guide-for-homebuyers-and-sellers\">Connect with LRG \u2192<\/a><br \/>\n<\/header>\n<nav aria-label=\"Jump to section\" class=\"rl-jump-nav\">\n<a href=\"#what-buyers-and-sellers-need-to-know-first\">What Buyers and Sellers Need to Know First<\/a><br \/>\n<a href=\"#why-pre-approval-gives-you-an-edge\">Why Pre-Approval Gives You an Edge<\/a><br \/>\n<a href=\"#what-should-you-expect-during-a-short-sale\">What Should You Expect During a Short Sale?<\/a><br \/>\n<a href=\"#mistakes-that-stall-or-kill-the-deal\">Mistakes That Stall or Kill the Deal<\/a><br \/>\n<a href=\"#faqs\">FAQs<\/a><br \/>\n<\/nav>\n<p>A short sale happens when a homeowner sells their property for less than the remaining mortgage balance, and the lender must approve the deal. These transactions typically take 90 to 120 days to close compared to 30 to 45 days for a standard sale, and buyers can often purchase at 10% to 20% below market value. The catch is that lenders control the entire timeline and can reject offers, counter at higher prices, or let deals sit for weeks without a response.<\/p>\n<div class=\"rl-quick-grid\">\n<article class=\"rl-quick-card\">\n<h3>Before You Start a Short Sale<\/h3>\n<ul>\n<li><strong>Hardship documentation:<\/strong> Sellers must submit a hardship letter, two months of bank statements, recent pay stubs, and tax returns to the lender before listing.<\/li>\n<li><strong>Negative equity confirmed:<\/strong> The home&#8217;s current market value must fall below the outstanding mortgage balance, verified through a broker price opinion or formal appraisal.<\/li>\n<li><strong>Lender approval timeline:<\/strong> Every short sale offer requires lender sign-off, which typically takes 60 to 120 days. Buyers should plan for a longer closing window than traditional purchases.<\/li>\n<li><strong>Worth knowing:<\/strong> Sellers may still owe the remaining balance (called a deficiency) unless the lender issues a written waiver at closing. Deficiency rules vary by state, so check local law before proceeding.<\/li>\n<\/ul>\n<\/article>\n<article class=\"rl-quick-card\">\n<h3>What You Need to Start a Short Sale<\/h3>\n<ul>\n<li><strong>Must have:<\/strong> Documented financial hardship including bank statements, tax returns, and a written hardship letter explaining why the mortgage is unsustainable.<\/li>\n<li><strong>Strongly recommended:<\/strong> <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2022-9-17-3-important-questions-you-must-ask-a-listing-agent-during-an-open-house\/\">A listing agent<\/a> with short sale experience who can manage lender negotiations, which typically run 90 to 120 days from submission to approval.<\/li>\n<li><strong>Optional but helpful:<\/strong> For buyers, a pre-approval letter and proof of funds signal closing readiness, which matters because lenders reject offers with shaky financing or multiple contingencies.<\/li>\n<li><strong>Bottom line:<\/strong> Most lenders require the sale price within 5-10% of the broker price opinion, so accurate pricing on day one prevents rejected offers and month-long restarts.<\/li>\n<\/ul>\n<\/article>\n<article class=\"rl-quick-card\">\n<h3>Short Sale Process Timeline<\/h3>\n<ul>\n<li><strong>Hardship package:<\/strong> Seller submits a hardship letter, two months of bank statements, pay stubs, and a signed listing agreement to the lender for review.<\/li>\n<li><strong>Offer and BPO review:<\/strong> Buyer submits an offer, then the lender orders a broker price opinion and compares the proposed price to the remaining mortgage balance.<\/li>\n<li><strong>Approval to close:<\/strong> Lender issues a conditional approval letter with specific closing terms, and both parties typically have 30 to 45 days to finalize.<\/li>\n<li><strong>Worth noting:<\/strong> Start to close, most short sales take 90 to 120 days because lender review alone averages 60 to 90 days, so buyers should secure extended rate locks.<\/li>\n<\/ul>\n<\/article>\n<article class=\"rl-quick-card\">\n<h3>What a Short Sale Costs<\/h3>\n<ul>\n<li><strong>Seller credit impact:<\/strong> Sellers typically see a 100 to 150 point credit score drop that stays on their report for seven years and delays new mortgage eligibility two to four years.<\/li>\n<li><strong>Tax on forgiven debt:<\/strong> The IRS can treat forgiven mortgage debt as taxable income, so a $60,000 deficiency could trigger a $12,000 to $15,000 federal tax bill at filing.<\/li>\n<li><strong>Buyer cost advantage:<\/strong> Short-sale homes typically sell 10% to 20% below market value, but <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/hidden-costs-first-time-buyers-in-san-antonio\/\">buyers should budget<\/a> $500 to $1,500 for inspections since most are sold as-is.<\/li>\n<li><strong>Break-even:<\/strong> For sellers, total short-sale costs (commission, forgiven-debt taxes, credit recovery) typically run 8% to 12% of the original loan balance, well below what a foreclosure costs.<\/li>\n<\/ul>\n<\/article>\n<\/div>\n<details>\n<summary>What is a short sale, and how does it affect homebuyers and sellers?<\/summary>\n<p>A short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance, with the lender&#8217;s approval. Buyers can find below-market prices but face longer closing timelines since the lender must authorize every offer, and sellers avoid foreclosure while resolving unaffordable debt.<\/p>\n<\/details>\n<details>\n<summary>How do short sales work for homebuyers and sellers?<\/summary>\n<p>A short sale happens when a homeowner sells their property for less than the outstanding mortgage balance, with the lender&#8217;s authorization. Sellers typically pursue this option during financial hardship to avoid foreclosure, while buyers can purchase at below-market prices, though the process requires lender approval and often takes longer than a traditional sale.<\/p>\n<\/details>\n<details>\n<summary>Who qualifies for a short sale?<\/summary>\n<p>Homeowners who owe more on their mortgage than the property is currently worth and can demonstrate financial hardship qualify to pursue a short sale. The mortgage lender must authorize the transaction, and any buyer willing to work through the longer lender-approval timeline can purchase a short sale property.<\/p>\n<\/details>\n<section class=\"rl-bluf\">\n<h2 id=\"the-bottom-line-up-front\">The Bottom Line Up Front<\/h2>\n<p><strong>A short sale happens when a homeowner sells their property for less than what they owe on the mortgage, and the lender agrees to accept the reduced payoff. For buyers, short sales can mean below-market prices. For sellers, they offer an alternative to foreclosure. The key consideration for both sides is understanding the timeline, lender approval process, and financial consequences before committing.<\/strong><\/p>\n<p>Short sales typically take 90 to 120 days to close because the seller&#8217;s lender must approve every offer. Buyers should expect multiple rounds of negotiation and the possibility that the lender rejects the deal entirely. Sellers avoid foreclosure but may still owe taxes on forgiven debt unless they qualify for an exclusion under the Mortgage Forgiveness Debt Relief Act. Lenders sometimes require a deficiency waiver as part of approval, sometimes they don&#8217;t. Both parties need an agent experienced in short sale transactions and a clear picture of who pays closing costs.<\/p>\n<div class=\"bullet-section-gray\">\n<ul>\n<li>Short sales require lender approval, which adds 60 to 90 days beyond a standard closing timeline.<\/li>\n<li>Sellers may owe income tax on the difference between the sale price and mortgage balance.<\/li>\n<li>Buyers often purchase 10% to 20% below market value but must accept the property as-is.<\/li>\n<li>Lenders can reject a short sale offer at any point, even after weeks of negotiation.<\/li>\n<li>A deficiency judgment waiver protects the seller from owing the remaining mortgage balance after closing.<\/li>\n<\/ul>\n<\/div>\n<\/section>\n<section class=\"rl-section\">\n<h2 id=\"what-buyers-and-sellers-need-to-know-first\">What Buyers and Sellers Need to Know First<\/h2>\n<p>A short sale happens when a homeowner sells their property for less than the remaining mortgage balance, and the lender agrees to accept the reduced payoff. This is not a foreclosure. The seller initiates the process, but the lender controls the approval timeline. Both <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2022-9-17-7-reasons-why-buyers-and-sellers-shouldnt-ditch-the-home-inspection\/\">buyers and sellers<\/a> face a transaction that moves slo<\/p>\n<p>Sellers typically pursue a short sale to avoid foreclosure, which causes more severe credit damage and stays on a credit report for seven years. A short sale&#8217;s credit impact usually lasts two to four years, making it the less damaging option. Buyers are drawn to <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/\">short sales<\/a> because properties often list below market value, sometimes 10% to 20% under comparable homes. But the discount comes with trade-offs. Lender approval can take 60 to 120 days after an offer is submitted, and the property is usually sold as-is with limited room for repair negotiations.<\/p>\n<p>20 days after an offer is submitted, and the property is usually sold as-is with limited room for repair negotiations.<\/p>\n<div class=\"bullet-section-gray\">\n<ul>\n<li>The seller&#8217;s lender must approve the sale price, which means the seller cannot simply accept an offer and close. Expect a separate lender review that adds weeks or months to the timeline.<\/li>\n<li>Buyers should get a home inspection even though the property sells as-is. Knowing the repair costs upfront helps you decide whether the discounted price actually represents a good deal.<\/li>\n<li>Sellers need to document financial hardship with tax returns, bank statements, pay stubs, and a hardship letter. Incomplete packages are <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2022-9-17-debunking-the-most-common-misconceptions-about-mortgage-refinancing\/\">the most common<\/a> reason for lender delays.<\/li>\n<li>The lender may pursue a deficiency judgment for <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2023-6-9-what-is-the-difference-between-short-sales-and-foreclosures\/\">the difference between<\/a> the sale price and the mortgage balance unless the seller negotiates a full release in the approval letter.<\/li>\n<li>Pre-approval is non-negotiable for buyers. Lenders reviewing short sale offers prioritize cash buyers and fully pre-approved borrowers over those still shopping for financing.<\/li>\n<\/ul>\n<\/div>\n<p>Consider a buyer offering $280,000 on a home with a $320,000 mortgage balance. That buyer is asking the lender to absorb a $40,000 loss, and that math drives every decision the lender makes during the process. Sellers who understand this dynamic submit stronger hardship packages, and buyers who price their offers realistically spend less time waiting on approvals that never come.<\/p>\n<\/section>\n<section class=\"rl-section\">\n<h2 id=\"why-pre-approval-gives-you-an-edge\">Why Pre-Approval Gives You an Edge<\/h2>\n<p>A mortgage pre-approval letter separates serious buyers from browsers in any real estate transaction, but in a short sale it carries even more weight. The selling lender is already accepting a financial loss on the property. They need confidence that the buyer can actually close. Showing up with verified pre-approval signals financial readiness and reduces the risk of a deal collapsing months into an already lengthy process.<\/p>\n<p>Short sales typically take 90 to 120 days because every offer requires the lender&#8217;s loss mitigation department to review and approve the terms. If your financing falls through after that timeline, the lender restarts with a new buyer, a new appraisal, and a new round of negotiations. That delay costs the lender money in carrying costs and staff time. Lenders reviewing short sale packages consistently prioritize offers that minimize this risk. A pre-approval letter with income and assets already verified tells the loss mitigation team your offer is not speculative.<\/p>\n<div class=\"bullet-section-gray\">\n<ul>\n<li>Pre-approval confirms your purchase price range, so you only submit offers the lender will realistically accept<\/li>\n<li>Most sellers&#8217; agents require a pre-approval letter before they will present an offer to the lender&#8217;s loss mitigation team<\/li>\n<li>A verified pre-approval (where the lender has already checked income, credit, and assets) carries significantly more weight than a basic pre-qualification letter<\/li>\n<li>Cash buyers and pre-approved buyers typically move to the front of the line when multiple offers come in on the same short sale listing<\/li>\n<li>If the lender counters at a higher price, having pre-approval up to a specific amount lets you respond quickly without restarting the financing process<\/li>\n<\/ul>\n<\/div>\n<p>Picture two buyers submitting offers on the same short sale listing. One includes a pre-approval letter with verified income, credit, and asset documentation. The other submits only a pre-qualification with no paperwork behind it. The lender&#8217;s loss mitigation team, already stretched thin processing the short sale file, will almost always advance the buyer who presents the least risk of a collapsed deal. That advantage compounds when multiple offers land on the table at once.<\/p>\n<\/section>\n<section class=\"rl-section\">\n<h2 id=\"what-should-you-expect-during-a-short-sale\">What Should You Expect During a Short Sale?<\/h2>\n<p>A short sale typically takes 90 to 120 days from accepted offer to closing, roughly double the timeline of a conventional transaction. The lender controls the pace because they must review the seller&#8217;s hardship documentation, order an independent property valuation, and formally approve the sale price before anything moves forward. Knowing what happens at each stage keeps both parties from walking away prematurely over what amounts to normal processing time.<\/p>\n<p>After the buyer submits an offer, the listing agent packages it with the seller&#8217;s financial hardship letter, two months of bank statements, recent tax returns, and <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2022-9-17-what-is-a-comparative-market-analysis-and-how-can-it-help-you-sell-your-home\/\">a comparative market analysis<\/a> showing the home&#8217;s current value. This complete package goes to the lender&#8217;s loss mitigation department for review. A dedicated negotiator gets assigned to the file, but staffing constraints at large servicers mean buyers often wait two to four weeks for initial acknowledgment. During that window, the property usually stays on the market and the lender may entertain backup offers.<\/p>\n<table>\n<thead>\n<tr>\n<th>Stage<\/th>\n<th>What Happens<\/th>\n<th>Typical Timeline<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Offer submission<\/td>\n<td>Buyer&#8217;s signed offer sent to listing agent<\/td>\n<td>Day 1<\/td>\n<\/tr>\n<tr>\n<td>Package compilation<\/td>\n<td>Agent assembles seller financials, CMA, and offer for lender<\/td>\n<td>Days 1\u20137<\/td>\n<\/tr>\n<tr>\n<td>Lender acknowledgment<\/td>\n<td>Loss mitigation confirms receipt, assigns negotiator<\/td>\n<td>Weeks 2\u20134<\/td>\n<\/tr>\n<tr>\n<td>BPO or appraisal<\/td>\n<td>Lender orders independent property valuation<\/td>\n<td>Weeks 4\u20136<\/td>\n<\/tr>\n<tr>\n<td>Negotiation<\/td>\n<td>Lender reviews net proceeds, may counter on price or terms<\/td>\n<td>Weeks 6\u201310<\/td>\n<\/tr>\n<tr>\n<td>Approval letter issued<\/td>\n<td>Lender formally approves sale price and closing conditions<\/td>\n<td>Weeks 10\u201314<\/td>\n<\/tr>\n<tr>\n<td>Closing<\/td>\n<td>Title work, final walkthrough, funding<\/td>\n<td>Weeks 14\u201316<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Buyers who set realistic expectations at the start tend to stay in the deal through the slow stretches. Build flexibility into your lease or current housing situation so a 120-day close doesn&#8217;t force a rushed decision. Sellers should confirm their lender&#8217;s full <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/first-time-buyer-document-checklist-texas\/\">document checklist<\/a> upfront because a single missing form can reset the review clock by two to three weeks, pushing the entire timeline past the four-month mark.<\/p>\n<\/section>\n<div class=\"rl-cta-mid\"><a class=\"rl-cta-pill\" href=\"\/lrg-blog\/connect-with-lrg\/?ref=understanding-short-sales-a-guide-for-homebuyers-and-sellers\">Connect with LRG \u2192<\/a><\/div>\n<section class=\"rl-section\">\n<h2 id=\"mistakes-that-stall-or-kill-the-deal\">Mistakes That Stall or Kill the Deal<\/h2>\n<p>Most short sale failures trace back to avoidable errors on the buyer side, the seller side, or both. The lender&#8217;s loss mitigation department reviews every detail of the transaction, and a single missing document or unrealistic expectation can push your file to the bottom of the pile or trigger an outright rejection. Knowing these pitfalls before you submit an offer saves months of wasted effort.<\/p>\n<p>Short sale lenders reject roughly 25% to 40% of proposed transactions, depending on the servicer and market conditions. The deals that fall apart usually share a pattern: incomplete paperwork, poor pricing, or one party losing patience during the approval window. Each of these problems is preventable with the right preparation and realistic expectations from the start.<\/p>\n<div class=\"bullet-section-gray\">\n<ul>\n<li>Submitting an incomplete hardship package. The seller&#8217;s financial documentation (tax returns, bank statements, pay stubs, hardship letter) must be current and complete. Lenders routinely stall files for 30 or more days over a single missing document.<\/li>\n<li>Pricing the property too far below market value. If the BPO (broker price opinion) comes back significantly higher than the offer price, the lender will counter or reject. Work with an agent who can pull recent comparable sales and price within 5% to 10% of likely BPO value.<\/li>\n<li>Buyer walking away during the wait. Approval can take 60 to 90 days <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/closing-timeline-after-offer-acceptance-texas\/\">after offer acceptance<\/a>. Buyers who set hard deadlines or refuse extensions kill otherwise approvable deals. Build the long timeline into your planning from day one.<\/li>\n<li>Failing to respond to lender counteroffers quickly. Loss mitigation departments issue counteroffers with tight response windows, sometimes 48 to 72 hours. Missing that window can reset the entire review process.<\/li>\n<li>Skipping the home inspection or waiving contingencies to speed things up. Short sale properties are often sold as-is, but an inspection protects against major structural or mechanical issues that could cost tens of thousands after closing.<\/li>\n<li>Seller continuing to miss mortgage payments without communicating with the servicer. If the lender initiates foreclosure proceedings during the short sale review, the timeline compresses and the deal can be pulled out from under both parties.<\/li>\n<\/ul>\n<\/div>\n<p>One rejected file does not necessarily end the transaction. If the lender counters at a higher price, buyers who have room in their budget can negotiate. But a deal that stalls twice on paperwork issues or missed deadlines rarely recovers. Treat the short sale process like a closing checklist from the moment you submit the offer, not after you get approval.<\/p>\n<\/section>\n<section class=\"rl-section\">\n<h2 id=\"how-do-you-start-a-short-sale\">How Do You Start a Short Sale?<\/h2>\n<p>Starting a short sale means contacting your lender&#8217;s loss mitigation department and submitting a hardship package before you list the property. Sellers initiate the process, not buyers. The lender needs proof that you can&#8217;t cover the remaining mortgage balance at current market value, and they won&#8217;t review your case without specific financial documents in hand.<\/p>\n<p>Your real estate agent should have short sale experience because the listing itself requires lender coordination from day one. The agent prices the home based on a broker price opinion or recent comparable sales, then submits that pricing rationale alongside your hardship documentation. Lenders reject packages with missing items outright, so assembling everything before you list saves weeks of back-and-forth that stalls the timeline covered in the previous section.<\/p>\n<table>\n<thead>\n<tr>\n<th>Step<\/th>\n<th>Action<\/th>\n<th>Who Handles It<\/th>\n<th>Typical Timeframe<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1<\/td>\n<td>Call lender&#8217;s loss mitigation department to open a short sale file<\/td>\n<td>Seller<\/td>\n<td>Day 1<\/td>\n<\/tr>\n<tr>\n<td>2<\/td>\n<td>Write a hardship letter explaining why you cannot pay the mortgage<\/td>\n<td>Seller<\/td>\n<td>1-3 days<\/td>\n<\/tr>\n<tr>\n<td>3<\/td>\n<td>Gather financial documents: tax returns (2 years), bank statements (2 months), pay stubs, monthly expense breakdown<\/td>\n<td>Seller<\/td>\n<td>3-7 days<\/td>\n<\/tr>\n<tr>\n<td>4<\/td>\n<td>Hire an agent experienced in short sales and sign a listing agreement<\/td>\n<td>Seller<\/td>\n<td>1-2 weeks<\/td>\n<\/tr>\n<tr>\n<td>5<\/td>\n<td>Agent prepares a broker price opinion or comparative market analysis<\/td>\n<td>Agent<\/td>\n<td>3-5 days<\/td>\n<\/tr>\n<tr>\n<td>6<\/td>\n<td>Submit the complete hardship package to the lender<\/td>\n<td>Agent and seller<\/td>\n<td>Same day as listing<\/td>\n<\/tr>\n<tr>\n<td>7<\/td>\n<td>List the property at the price supported by the market analysis<\/td>\n<td>Agent<\/td>\n<td>Upon lender acknowledgment<\/td>\n<\/tr>\n<tr>\n<td>8<\/td>\n<td>Receive and present offers to the lender for approval<\/td>\n<td>Agent<\/td>\n<td>Ongoing (30-90 days)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>One detail sellers overlook: if you have a second mortgage or home equity line of credit, that junior lienholder also needs to approve the sale. Each additional lien adds a separate negotiation track. A seller with a first mortgage of $280,000 and a HELOC of $40,000 on a home worth $250,000 is negotiating two separate write-downs, which is why short sales with multiple liens routinely push past the 120-day window.<\/p>\n<\/section>\n<section class=\"rl-section\">\n<h2 id=\"typical-costs-and-how-long-it-takes\">Typical Costs and How Long It Takes<\/h2>\n<p>Short sale costs hit <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/2022-9-17-7-reasons-why-buyers-and-sellers-shouldnt-ditch-the-home-inspection\/\">buyers and sellers<\/a> differently than a standard closing. Sellers often walk away owing nothing out of pocket if the lender approves the deficiency waiver, but <a href=\"https:\/\/lrgrealty.com\/lrg-blog\/hidden-costs-first-time-buyers-in-san-antonio\/\">buyers should budget for<\/a> inspection fees, appraisal costs, and potential repair expenses on a property sold as-is. The total timeline from listing to closing commonly runs 90 to 120 days, though lender response time is the biggest variable.<\/p>\n<p>Buyers sometimes assume a discounted purchase price means lower overall costs. That is rarely true. Short sale properties often need deferred maintenance work the seller could not afford, and lenders typically reject repair credits or seller concessions that shrink their net proceeds. Factor rehab estimates into your offer math before you submit, not after the lender approves.<\/p>\n<div class=\"bullet-section-gray\">\n<ul>\n<li>Home inspection: $300 to $500 depending on property size, and non-negotiable on a property where the owner deferred maintenance<\/li>\n<li>Appraisal fee: $400 to $700, required by your lender and often ordered after the short sale lender issues preliminary approval<\/li>\n<li>Title search and insurance: $1,000 to $2,500, with short sales sometimes requiring additional lien research that adds cost<\/li>\n<li>Repair budget: 1% to 3% of purchase price is a reasonable reserve for deferred maintenance items like HVAC, roofing, or plumbing<\/li>\n<li>Attorney or negotiator fees (seller side): $2,000 to $5,000 for a short sale negotiation specialist who handles lender communication<\/li>\n<li>Deficiency balance risk (seller side): if the lender does not waive the remaining mortgage balance, the seller may owe the difference or face a 1099-C for forgiven debt<\/li>\n<\/ul>\n<\/div>\n<p>A buyer purchasing a short sale property at $250,000 should expect $5,000 to $12,000 in closing and inspection costs before any repairs. Sellers should confirm in writing whether the lender will issue a full deficiency waiver or pursue the remaining balance. That single document changes the entire financial outcome of the transaction.<\/p>\n<\/section>\n<section class=\"rl-section\">\n<h2 id=\"the-bottom-line\">The Bottom Line<\/h2>\n<p>A short sale is not a foreclosure. It is a negotiated transaction where the lender agrees to accept less than the remaining mortgage balance, and the seller initiates the process by submitting a hardship package to the lender&#8217;s loss mitigation department before the property ever hits the market. Expect 90 to 120 days from accepted offer to closing, roughly double a conventional sale, because the lender controls the pace and reviews every detail.<\/p>\n<p>What matters most is preparation on both sides. Buyers need a pre-approval letter ready before making an offer, since the selling lender is already absorbing a loss and won&#8217;t entertain unqualified buyers. Sellers need complete, accurate documentation from day one. Most short sale failures trace back to avoidable errors, and a single missing piece can stall or kill the deal entirely.<\/p>\n<\/section>\n<section class=\"rl-faq\">\n<h2 id=\"frequently-asked-questions\">Frequently Asked Questions<\/h2>\n<details>\n<summary>What are the biggest risks of buying a short sale home?<\/summary>\n<p>The primary risks are extended timelines, property condition issues, and deal uncertainty. Lenders can reject the offer at any point, even after months of waiting. Short sale homes are typically sold &#8220;as-is,&#8221; meaning the seller won&#8217;t fund repairs. You may face competition from cash investors willing to close faster. Title complications like secondary liens or judgments can delay or kill the deal. Budget for a thorough home inspection and title search before committing, and have a backup property in mind. A significant percentage of short sale contracts fall through before closing.<\/p>\n<\/details>\n<details>\n<summary>What steps does a buyer follow in a short sale transaction?<\/summary>\n<p>Start by getting pre-approved for a mortgage so you can move quickly on listings. Find a short sale property (typically marked on the MLS) and submit an offer through your agent. The seller&#8217;s lender reviews the offer, which can take 60 to 120 days. During that waiting period, order a home inspection and title search. If the lender counters, negotiate through the listing agent. Once the lender issues a short sale approval letter, you proceed to closing similar to a traditional purchase. Keep your financing current throughout, because expired pre-approvals cause delays.<\/p>\n<\/details>\n<details>\n<summary>What does a seller need to do to start the short sale process?<\/summary>\n<p>Contact your lender&#8217;s loss mitigation department and request a short sale application. You&#8217;ll submit a hardship letter explaining why you can&#8217;t continue making payments (job loss, medical bills, divorce, or military relocation all qualify). Gather financial documents: two years of tax returns, recent pay stubs, bank statements, and a current mortgage statement. Your agent lists the property and collects offers. Each offer goes to the lender with your complete short sale package. The lender then orders a broker price opinion or appraisal to verify market value before making a decision.<\/p>\n<\/details>\n<details>\n<summary>What documents are included in a short sale package?<\/summary>\n<p>A complete short sale package typically includes a hardship letter, two years of federal tax returns, two months of bank statements, recent pay stubs or proof of income, a signed third-party authorization form (allowing your agent to communicate with the lender), the listing agreement, a copy of the purchase offer, and a preliminary closing statement. Some lenders also require a detailed financial worksheet. Missing even one document can reset the review clock, so request your lender&#8217;s specific checklist and submit everything together in a single submission.<\/p>\n<\/details>\n<details>\n<summary>What is a short sale approval letter?<\/summary>\n<p>A short sale approval letter is the lender&#8217;s formal written consent to accept a sale price below the remaining mortgage balance. It specifies the approved purchase price, the closing deadline (usually 30 to 45 days from issuance), and whether the lender will forgive the remaining debt or pursue a deficiency judgment. Buyers should review this letter carefully with their agent because it may include conditions, such as requiring the seller to sign a promissory note for a portion of the shortfall. This letter is not the same as a buyer&#8217;s mortgage pre-approval.<\/p>\n<\/details>\n<details>\n<summary>How long does a typical short sale take to close?<\/summary>\n<p>Most short sales take 90 to 120 days from offer submission to closing, though some stretch past six months. The longest phase is lender review, which averages 60 to 90 days for the first lien holder. If a second mortgage or HELOC exists, that lender also needs to approve, adding another 30 to 60 days. Government-backed loans (FHA, VA, USDA) may involve additional agency review. You can shorten the timeline by submitting a complete short sale package upfront and responding to every lender request within 24 hours.<\/p>\n<\/details>\n<details>\n<summary>Can a lender pursue a deficiency judgment after a short sale?<\/summary>\n<p>It depends on your state and the terms of the approval letter. In non-recourse states like California and Arizona (for purchase money mortgages), lenders generally cannot pursue the difference between the sale price and loan balance. In recourse states, the lender can sue for that gap. Some lenders waive the deficiency in the approval letter, while others require a promissory note for a portion of the shortfall. Always get a written deficiency waiver before closing. Consult a real estate attorney in your state to understand your specific exposure before agreeing to terms.<\/p>\n<\/details>\n<details>\n<summary>How does a short sale affect the seller&#8217;s credit score?<\/summary>\n<p>A short sale typically drops your credit score by 100 to 150 points, similar to a deed in lieu of foreclosure. It remains on your credit report for seven years. However, the impact is less severe than a full foreclosure, and recovery is faster. Most sellers can qualify for an FHA loan two to three years after a short sale and a conventional loan after four years (with possible exceptions for documented extenuating circumstances). Making all other payments on time during and after the process accelerates credit recovery significantly.<\/p>\n<\/details>\n<\/section>\n<footer class=\"rl-resources\">\n<h2 id=\"resources-used\">Resources Used<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.nar.realtor\/legal\/risk-management\/the-short-sale-workflow\" rel=\"noopener noreferrer\" target=\"_blank\">NAR.realtor \u2014 The Short Sale Workflow &#8211; National Association of REALTORS\u00ae<\/a><\/li>\n<li><a href=\"https:\/\/www.redfin.com\/blog\/how-to-buy-a-short-sale-home\/\" rel=\"noopener noreferrer\" target=\"_blank\">Redfin.com \u2014 What is a Short Sale in Real Estate? A Guide for Buyers and Sellers<\/a><\/li>\n<li><a href=\"https:\/\/teamwallerhomes.com\/blog\/Understanding-Short-Sales--A-Comprehensive-Guide-for-Buyers-and-Sellers\" rel=\"noopener noreferrer\" target=\"_blank\">Teamwallerhomes.com \u2014 Understanding Short Sales: A Comprehensive Guide for Buyers and &#8230;<\/a><\/li>\n<li><a href=\"https:\/\/myhome.freddiemac.com\/blog\/selling\/what-is-a-short-sale-and-how-does-it-work\" rel=\"noopener noreferrer\" target=\"_blank\">Myhome.freddiemac.com \u2014 What Is a Short Sale and How Does It Work? &#8211; Freddie Mac<\/a><\/li>\n<li><a href=\"https:\/\/www.kennarealestate.com\/blog\/understanding-the-short-sale-process-what-buyers-need-to-know\/\" rel=\"noopener noreferrer\" target=\"_blank\">Kennarealestate.com \u2014 Understanding the Short Sale Process: What Buyers Need to Know<\/a><\/li>\n<li><a href=\"https:\/\/coloradorealtors.com\/short-sales\/\" rel=\"noopener noreferrer\" target=\"_blank\">Coloradorealtors.com \u2014 Short Sale Process by Colorado Association of REALTORS<\/a><\/li>\n<li><a href=\"https:\/\/www.hhlnorthwest.com\/mortgage-101\/8-things-to-know-about-short-sales\/\" rel=\"noopener noreferrer\" target=\"_blank\">Hhlnorthwest.com \u2014 8 Things to Know About Short Sales in Real Estate &#8211; HHL Group<\/a><\/li>\n<li><a href=\"https:\/\/www.fortunebuilders.com\/p\/short-sale-process\/\" rel=\"noopener noreferrer\" target=\"_blank\">Fortunebuilders.com \u2014 Short Sale Process: A Guide For Buyers &amp; Sellers &#8211; FortuneBuilders<\/a><\/li>\n<\/ul>\n<\/footer>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Process \u00b7 Guide Understanding Short Sales A Guide For Homebuyers And Sellers Connect with LRG \u2192 What Buyers and Sellers Need to Know First Why Pre-Approval Gives You an Edge What Should You Expect During a Short Sale? Mistakes That Stall or Kill the Deal FAQs A short sale happens when a homeowner sells their [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":1518,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,64],"tags":[],"class_list":["post-1516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-buying","category-lrg-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Understanding Short Sales: A Guide for Homebuyers and Sellers - LRG Realty Blog<\/title>\n<meta name=\"description\" content=\"Short sales explained for buyers and sellers: timelines, lender approval, risks, and tips to help you navigate the process with confidence\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding Short Sales: A Guide for Homebuyers and Sellers - LRG Realty Blog\" \/>\n<meta property=\"og:description\" content=\"Short sales explained for buyers and sellers: timelines, lender approval, risks, and tips to help you navigate the process with confidence\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/\" \/>\n<meta property=\"og:site_name\" content=\"LRG Realty Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-15T01:04:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-11T23:15:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lrgrealty.com\/wp-content\/uploads\/2024\/08\/Understanding-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"504\" \/>\n\t<meta property=\"og:image:height\" content=\"501\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Salena Arledge\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Salena Arledge\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"20 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/\"},\"author\":{\"name\":\"Salena Arledge\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/#\\\/schema\\\/person\\\/66a1ba3955797b9862369a98cac57ed1\"},\"headline\":\"Understanding Short Sales: A Guide for Homebuyers and Sellers\",\"datePublished\":\"2024-08-15T01:04:41+00:00\",\"dateModified\":\"2026-06-11T23:15:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/\"},\"wordCount\":4060,\"image\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/lrgrealty.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Understanding-1.webp\",\"articleSection\":[\"Home Buying\",\"LRG Blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/\",\"url\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/\",\"name\":\"Understanding Short Sales: A Guide for Homebuyers and Sellers - LRG Realty Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/lrgrealty.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Understanding-1.webp\",\"datePublished\":\"2024-08-15T01:04:41+00:00\",\"dateModified\":\"2026-06-11T23:15:53+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/#\\\/schema\\\/person\\\/66a1ba3955797b9862369a98cac57ed1\"},\"description\":\"Short sales explained for buyers and sellers: timelines, lender approval, risks, and tips to help you navigate the process with confidence\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#primaryimage\",\"url\":\"https:\\\/\\\/lrgrealty.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Understanding-1.webp\",\"contentUrl\":\"https:\\\/\\\/lrgrealty.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Understanding-1.webp\",\"width\":504,\"height\":501,\"caption\":\"exc-66bd54460475e1725c980f15\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Understanding Short Sales: A Guide for Homebuyers and Sellers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/#website\",\"url\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/\",\"name\":\"LRG Realty Blog\",\"description\":\"LRG Realty Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/#\\\/schema\\\/person\\\/66a1ba3955797b9862369a98cac57ed1\",\"name\":\"Salena Arledge\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/dca11b73339061ada829cf46a3e392a737fe9cc3cba576010613347cdc49cbc3?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/dca11b73339061ada829cf46a3e392a737fe9cc3cba576010613347cdc49cbc3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/dca11b73339061ada829cf46a3e392a737fe9cc3cba576010613347cdc49cbc3?s=96&d=mm&r=g\",\"caption\":\"Salena Arledge\"},\"description\":\"Salena Arledge is the Listings Manager at Levi Rodgers Real Estate Group with over 10 years of real estate experience and $98M in closed sales. She specializes in first-time seller guidance across San Antonio and Central Texas.\",\"url\":\"https:\\\/\\\/lrgrealty.com\\\/lrg-blog\\\/author\\\/salena-arledge\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Understanding Short Sales: A Guide for Homebuyers and Sellers - LRG Realty Blog","description":"Short sales explained for buyers and sellers: timelines, lender approval, risks, and tips to help you navigate the process with confidence","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/","og_locale":"en_US","og_type":"article","og_title":"Understanding Short Sales: A Guide for Homebuyers and Sellers - LRG Realty Blog","og_description":"Short sales explained for buyers and sellers: timelines, lender approval, risks, and tips to help you navigate the process with confidence","og_url":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/","og_site_name":"LRG Realty Blog","article_published_time":"2024-08-15T01:04:41+00:00","article_modified_time":"2026-06-11T23:15:53+00:00","og_image":[{"width":504,"height":501,"url":"https:\/\/lrgrealty.com\/wp-content\/uploads\/2024\/08\/Understanding-1.webp","type":"image\/webp"}],"author":"Salena Arledge","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Salena Arledge","Est. reading time":"20 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#article","isPartOf":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/"},"author":{"name":"Salena Arledge","@id":"https:\/\/lrgrealty.com\/lrg-blog\/#\/schema\/person\/66a1ba3955797b9862369a98cac57ed1"},"headline":"Understanding Short Sales: A Guide for Homebuyers and Sellers","datePublished":"2024-08-15T01:04:41+00:00","dateModified":"2026-06-11T23:15:53+00:00","mainEntityOfPage":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/"},"wordCount":4060,"image":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#primaryimage"},"thumbnailUrl":"https:\/\/lrgrealty.com\/wp-content\/uploads\/2024\/08\/Understanding-1.webp","articleSection":["Home Buying","LRG Blog"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/","url":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/","name":"Understanding Short Sales: A Guide for Homebuyers and Sellers - LRG Realty Blog","isPartOf":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#primaryimage"},"image":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#primaryimage"},"thumbnailUrl":"https:\/\/lrgrealty.com\/wp-content\/uploads\/2024\/08\/Understanding-1.webp","datePublished":"2024-08-15T01:04:41+00:00","dateModified":"2026-06-11T23:15:53+00:00","author":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/#\/schema\/person\/66a1ba3955797b9862369a98cac57ed1"},"description":"Short sales explained for buyers and sellers: timelines, lender approval, risks, and tips to help you navigate the process with confidence","breadcrumb":{"@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#primaryimage","url":"https:\/\/lrgrealty.com\/wp-content\/uploads\/2024\/08\/Understanding-1.webp","contentUrl":"https:\/\/lrgrealty.com\/wp-content\/uploads\/2024\/08\/Understanding-1.webp","width":504,"height":501,"caption":"exc-66bd54460475e1725c980f15"},{"@type":"BreadcrumbList","@id":"https:\/\/lrgrealty.com\/lrg-blog\/2024-8-14-understanding-short-sales-a-guide-for-homebuyers-and-sellers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/lrgrealty.com\/lrg-blog\/"},{"@type":"ListItem","position":2,"name":"Understanding Short Sales: A Guide for Homebuyers and Sellers"}]},{"@type":"WebSite","@id":"https:\/\/lrgrealty.com\/lrg-blog\/#website","url":"https:\/\/lrgrealty.com\/lrg-blog\/","name":"LRG Realty Blog","description":"LRG Realty Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lrgrealty.com\/lrg-blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/lrgrealty.com\/lrg-blog\/#\/schema\/person\/66a1ba3955797b9862369a98cac57ed1","name":"Salena Arledge","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/dca11b73339061ada829cf46a3e392a737fe9cc3cba576010613347cdc49cbc3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/dca11b73339061ada829cf46a3e392a737fe9cc3cba576010613347cdc49cbc3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/dca11b73339061ada829cf46a3e392a737fe9cc3cba576010613347cdc49cbc3?s=96&d=mm&r=g","caption":"Salena Arledge"},"description":"Salena Arledge is the Listings Manager at Levi Rodgers Real Estate Group with over 10 years of real estate experience and $98M in closed sales. She specializes in first-time seller guidance across San Antonio and Central Texas.","url":"https:\/\/lrgrealty.com\/lrg-blog\/author\/salena-arledge\/"}]}},"_links":{"self":[{"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/posts\/1516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/comments?post=1516"}],"version-history":[{"count":1,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/posts\/1516\/revisions"}],"predecessor-version":[{"id":5378,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/posts\/1516\/revisions\/5378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/media\/1518"}],"wp:attachment":[{"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/media?parent=1516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/categories?post=1516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lrgrealty.com\/lrg-blog\/wp-json\/wp\/v2\/tags?post=1516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}