Myrtle Beach Homes and Condos For Sale – Short Sales

Short Sale Homes & Condos for Sale in Myrtle Beach SC

short-saleHere’s a list of  home and condo “short sales” in Myrtle Beach SC. These Myrtle Beach short sale listings are updated daily, directly from the local Myrtle Beach MLS. Check back often for the latest listings.

To ensure you are getting the very best value when purchasing a short sale home or condo, and to avoid hazards and pitfalls, always work with an agent experienced in the Myrtle Beach short sale  market.

Make a convenient appointment to see any of these beautiful homes today. Call Mike Childs at 843-602-7644.

What is a Short Sale?

Short selling a house is a process where the homeowner works closely with his lender or multiple lenders to sell a home at or near market value when the market value is less than the total amounts owed on the property.

The lender is agreeing to accept a “shortage of funds” or “short pay off” to satisfy the dept.

Example: If homes in your neighborhood are selling for $200,000 (market value) and you owe $300,000 on a similar home, you will not be able to sell your home for what you owe and will have to get the lender to agree to a short sale.

You cannot short sale a property unless all lenders agree to the short pay off. Generally you must suffer some hardship that requires you to sell or be in “default” on your loan before a lender will consider a short sale.

Sometimes short sales may be a bargain for investors or home buyers. It all depends on the condition of the home and the lender’s motivation to avoid a foreclosure.