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Real Estate Short Sales

Issues involving your home mortgage or the sale of your home are often difficult to handle on your own. When dealing with these matters, having an experienced, knowledgeable attorney at your side is important.

The attorneys at Skidmore & Associates have been handling short sales and real estate matters for over 50 years. We work to help our clients understand their options so they can make an informed decision with our assistance and guidance. Our practice is focused on our clients.  We pride ourselves on providing high quality client service tailored to each client's individual needs and situation.

What is a Short Sale?

When a home or other real estate is sold for less than the outstanding amount of the existing mortgage, it is know as a "short sale." In essence, the profits from the sale are "short," therefore giving rise to the name "short sale." 

In the course of a short sale, the bank or lender agrees to accept an amount smaller than the balance of a mortgage. The proceeds from the sale are then turned over to the lender for satisfaction of the loan balance.

Why a Short Sale?

A short sale is use to avoid foreclosure. Many banks and other lending institutions find themselves benefitting from a short sale, as it may be the quickest and most cost-effective way for them to free themselves of property that is no longer worth the value of their secured interests. A short sale is typically less expensive for the bank and allows them to control some of the costs involved with distressed properties. This is why banks and lenders are sometimes willing to negotiate a short sale with a homeowner.

For more information about short sales, real estate, buying a home or to discuss your specific situation, contact us at 330.253.1550 to schedule an appointment.


The real estate attorneys of Skidmore & Associates provide legal services for clients in Akron, Barberton, Bath, Canal Fulton, Canton, Copley, Cuyahoga Falls, Fairlawn, Green, Hudson, Jackson Twp., Lakemore, Macedonia, Massillon, North Canton, Norton, Peninsula, Springfield Twp., Stow, Twinsburg, Wadsworth, Wooster, Cuyahoga County, Portage County Stark County, Summit County, Wayne County, and  Medina County.