Short Sale and distressed properties have accounted for a large portion of Destin and 30A’s real estate market. In fact short sales and distressed properties accounted for the largest portion of the sales in 2010. One of the most asked question is how does a short sale work. Well, let me try to explain it. There are a few things that qualify someone to be able to short sell their property. First you must owe more than the property can sell for, second you have to be behind on payments and third they have to be able to claim and prove hardship. If you are answering yes to these questions them you need to speak to us so we can help you. Call Danny Margagliano at 850-830-4747 or to set up a consultation. Team Baranowski specializes in Distressed Properties and our goal is to prevent you from foreclosing on your property. Selling your property short will do much less damage to your credit than foreclosing. If you are looking to buy a short sale there is little to be scared of, in fact if you can be patient you may end up with a very good deal. The hardest part of the process is the “waiting game”. Once an offer is presented to the seller and the seller accepts the offer, it will now be submitted to the bank for approval. This can take between 2-6 months. The banks started getting better at processing short sales at the end of 2010 and continue to speed the process up. If you are patient enough to wait for an answer you can be rewarded by a very good deal.