Port Saint Lucie · Short Sale Specialist
Owe more than your home is worth? A short sale — where your lender agrees to accept less than the full mortgage balance — can stop foreclosure, protect your credit more than a completed foreclosure, and let you move on. Daniel Corrar holds FL License SL3350356 and has handled distressed sales on the Treasure Coast for over 10 years.
Port Saint Lucie, FL
A short sale is a specific negotiation with your lender — they agree to accept a sale price below the outstanding loan balance, releasing the lien and avoiding a foreclosure auction. It requires an experienced agent because every lender has different approval processes, timelines, and deficiency judgment policies.
Getting this wrong — submitting an incomplete package, missing a lender deadline, or not negotiating the deficiency language — can leave you with a lender pursuing you for the remaining balance after the sale. If the situation has already reached the foreclosure filing stage, see our foreclosure home buyers page. If you've fallen behind but haven't received a foreclosure notice yet, our behind-on-mortgage page covers your options.
What a Short Sale Involves
A short sale is not a simple transaction. Here's what the process involves and why experienced representation matters.
The lender agrees to accept a sale price below what you owe on the mortgage. The lien is released, the property transfers to the buyer, and — if negotiated correctly — the remaining balance is forgiven.
You owe more than the home is worth, you have a documented financial hardship, and you want to avoid the 7-year credit damage of a completed foreclosure. All three typically need to be true.
We submit a short sale package: hardship letter, financial documentation, a purchase offer, and a comparative market analysis. The lender assigns a negotiator and reviews over 30 to 90 days. Daniel manages this process start to finish.
A foreclosure typically stays on your credit for 7 years and is one of the most damaging entries possible. A short sale, while a negative event, is generally reported with less severity and gives you control over the timeline.
If the lender doesn't forgive the deficiency, they may pursue you for the balance between the sale price and your loan. Daniel negotiates for full deficiency forgiveness as a standard part of every short sale package.
Most short sales take 3 to 6 months from first contact to closing. The timeline depends on your lender, the completeness of the package submitted, and whether the lender assigns a responsive negotiator.
The Process
Four stages. Daniel handles the lender communication, package preparation, and negotiation at every step.
Tell Daniel what you owe, the property address, and what's driving the hardship. About 15 minutes. No judgment, no pressure.
We pull recent comparable sales and compare them to your loan payoff amount to confirm a short sale is the right path and likely to be approved.
Daniel assembles and submits the full package: hardship letter, financials, purchase offer, CMA, and all lender-required forms. We track every response and follow up.
Once the lender issues written approval, we schedule the closing. The lien is released, the property transfers, and — if negotiated — the deficiency is forgiven in writing.
Underwater Doesn't Mean Out of Options.
The earlier you call, the more options you have. Once a foreclosure auction is scheduled, the window narrows. One conversation tells you where you stand.
(561) 600-2274 — Call DanielShort Sale vs. Foreclosure
A completed foreclosure is not just a credit event — it's a public auction, potential deficiency judgment, and a loss of all control over timing and outcome. A short sale keeps you in the driver's seat.
The short sale outcome depends heavily on the quality of the package submitted and how aggressively the deficiency is negotiated. Experience with Treasure Coast lenders matters.
Common Questions
A short sale is a real estate transaction where the lender agrees to accept a sale price that is less than the outstanding mortgage balance. The lender releases the lien on the property in exchange for the proceeds, allowing the sale to close even though the price doesn't cover the full loan amount.
Yes. The lender must review and approve the short sale package before the transaction can close. This involves submitting financial hardship documentation, a purchase offer, a comparative market analysis, and other lender-specific forms. The approval process typically takes 30 to 90 days depending on the lender.
It depends on the lender and the negotiated terms. Some lenders agree to forgive the deficiency — the gap between the sale price and the loan balance — as part of the short sale approval. Others reserve the right to pursue a deficiency judgment. Daniel negotiates for deficiency forgiveness as a standard part of every short sale package.
A completed foreclosure typically stays on your credit report for 7 years and represents one of the most severe derogatory marks possible. A short sale, while still a negative credit event, is generally reported less harshly and gives you more control over the timing and outcome of the sale.
Yes, in most cases. As long as the property has not yet been sold at a foreclosure auction, a short sale can proceed. The lender will typically pause or postpone the foreclosure auction while reviewing a short sale package. Time is critical — call Daniel as soon as possible if foreclosure proceedings have begun.
No pressure, no obligation. Daniel holds Florida Real Estate License SL3350356 and answers every call personally.
(561) 600-2274 — Call Now