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Selling St Louis Short Sale Homes


What is a 'Short Sale?'

A Short Sale takes place when homes are sold for less than the bank payoff, and the home seller does not have the funds to make up the difference.  

Contrary to the ideas of some, when any home with a mortgage is sold, the note that secures the deed of trust must be released by the bank.  This is an industry way of saying, THE BANK HAS TO GET THEIR MONEY.   If the sale is for less than the loan payoff, and the seller can't bring enough money to closing to pay the loan off, then a short sale must take place.   

The Opportunity for Seller's

To start the process of short selling a home, home owners need to contact a Realtor that regularly handles short sales.  Protocol varies with each bank with one exception:  they all pay Realtor commissions.  Having a Realtor actively consulting short sale sellers through the process is essential.

Not all home sellers qualify for short sales, and different banks have different criteria.  Some banks require that the homeowner must be behind in payments, others do not.  The typical process goes as follows:

  • Request Hardship Packet -- some banks don't send the hardship packet until an offer is received, others will send the hardship packet instructions.
  • Write hardship letter -- letter describes what hardship exists and why the seller must sell.
  • Market home as short sale, price it low and try to attract a buyer quickly
  • Sign 3rd Party Authorization Form allowing your Short Sale Realtor to communicate with the bank.
  • Submit offer, hardship letter, hardship application, preliminary HUD1, and 3rd Party Authorization to bank for consideration.
  • Wait, Wait, Wait, Wait and Wait some more
  • Bank sends approval or rejection letter.
  • Comply with terms of approval letter and close the deal  -OR- if rejected, solicit better offer from buyer or place back on market for new buyer.

To be successful, each step in the process usually requires a great deal of work and persuasion to keep the bank, seller and buyer together.  That is why an experienced agent is needed that understands the process and has the negotiation skills necessary.  Some deals have a seperate short sale negotiator involved in addition to the listing agent.  

Highest Priced Short Sales

$799,999
22015476 MLS ⋅ ACTIVE Status
Opportunity knocks! Huge historical CWE mansion, known as the Butler House, built in 1892.Currently zoned as commercial and residential. 2.5 Stories with grand staircases and stain glass. Third floor occupied by owners. First and second floor is down to studs. Needs renovation. Fabulous level almost half-acre lot. Has a carriage house converted to a beauty salon. Plus a 3-car garage. Turrets, port cochere on the national historical registry. Loads of potential. Close to Whole Foods, Barnes Jewish hospital, Wash U school of Medicine and Forest Park. 15 parking spots in back yard for beauty salon. Seller is selling as-is. Seller will do no repairs, credits or occupancy inspections. Note' this is an approved short sale. Purchaser agrees to pay a 4.5% of sales price short sale fee at closing

4484 W Pine, St Louis
$200,000
4 Beds ⋅ 3 Baths ⋅ 22072543 MLS ⋅ ACTIVE UNDER CONTRACT Status
This is a short sale. The $3,500 short sale fee paid by buyer at closing. All inspecions are a buyers fee and for their knowledge only. Offers to be submitted to listings agent on special sales contract with SS fee included, and form # 2176 price has been pree-approved by lender.

16365 Peppermill Drive, Wildwood
$164,900
3 Beds ⋅ 2 Baths ⋅ 22045707 MLS ⋅ ACTIVE UNDER CONTRACT Status
Discover city living at its best! This property has been EXTENSIVELY renovated from top to bottom, inside & out and is located in the desired Central West End, full of character and style on a quiet tree-lined street. Surrounded by an up & coming revitalized area with a lot of new development and renovation. This all brick 3 Story Gem offers an open floor, high ceilings & ceiling fans throughout the entire home on each level. Entry foyer that leads to a grand living room w/ a decorative fireplace, opens to the dining room, updated kitchen for the chief of the family. Main floor laundry area. Plenty of space for entertainment and everyday living. The 2nd floor features 2 bedrooms, one with a reading nook / dressing room. 2 full baths, one bathroom is an on-suite to 1 bedroom with a custom shower. The 3rd level offers 2 large bedrooms or could be used as a family room. You choose.! Updated HVACs, furnace, water heater, plumbing and two electrical panels, deck and a nice size backyard.

5257 Maple Avenue, St Louis
$155,900
2 Beds ⋅ 2 Baths ⋅ 22045277 MLS ⋅ ACTIVE Status
Quality abounds in this lovely home in desirable Gravois Park Neighborhood. This is a Short Sale, $5,500 SS fee to be paid by any buyer at closing. This is in beginning of SS process. Property to be sold AS-IS.

6436 Weber Road, St Louis
$115,000
4 Beds ⋅ 2 Baths ⋅ 22014118 MLS ⋅ ACTIVE UNDER CONTRACT Status
Possible Short Sale* Secluded Full Brick 1,600+ SQ FT Ranch on 3 Acres in Hazelwood West * Oversized 2 Car Attached Garage * Own Septic & Well * Stone wall wood burning Fireplace * 4 Bedrooms 1.5 Baths * Kitchen Island w/ Granite Tiled Counter & Lots of Wood Cabinets * Ceramic Title & Wood Floors * Main floor Laundry Room off Garage * There are 6 Tract Owners back here who share & maintain the Gravel Rd, we are the last house on the Road * Property runs parallel with Truman Park * Property needs some work * Owner Occupants can apply for an FHA or Conventional "Home Renovation Loan" allows you money for fix up & purchase price in one loan * Buyer to pay 3rd Party processor fee at closing & close at Sellers Title Company - Mobile closing accommodations available * Purchase as is & Sale subject to Lienholders approval *

1227 Teson Road, Hazelwood
$105,000
3 Beds ⋅ 3 Baths ⋅ 20032003 MLS ⋅ ACTIVE UNDER CONTRACT Status
Short Sale Comp Purposes only

3944 Secretariat, Florissant
$100,000
2 Beds ⋅ 1 Baths ⋅ 22071639 MLS ⋅ ACTIVE UNDER CONTRACT Status
Quality abounds with this lovely home in need of some TLC. This is a short sale. $4,000.00 short sale fee to be paid by buyer at closing. This house is being sold as-is, with seller to make no repairs or warranties.

3541 Itaska Street, St Louis
$85,000
3 Beds ⋅ 1 Baths ⋅ 22003912 MLS ⋅ ACTIVE Status
Short sale, Sold as is with seller to provide no inspections or repairs. Cute starter or investor property. Use special sales contract and short sale rider and include proof of funds.

10628 Spring Garden Dr, St Louis
$75,900
2 Beds ⋅ 1 Baths ⋅ 21078954 MLS ⋅ ACTIVE UNDER CONTRACT Status
Short sale. Looking for a house that just needs cosmetic updates? Here it is! Remodeled in 2016 and now needs freshening back up. The porch will be a place you will want to drink morning coffee and wait to greet your friends and family. Great curb appeal. Front porch is wide, covered and has a modern railing. You enter home into living room, dining room (that could be the 2nd bedroom) down the main hall if the bath, bedroom and kitchen. The kitchen was new in 2016 and now needs an oven. The back yard will be perfect for your pets. The yard is enclosed with a 6 ft privacy fence. Home needs a little elbow grease to bring it back to being a beauty. Home is being sold in its current condition (aka "as is")

154 W Arlee Avenue, St Louis
$75,000
2 Beds ⋅ 1 Baths ⋅ 22023663 MLS ⋅ ACTIVE Status ⋅ Blu CitySpaces BLDG.
Bank approved short sale at $75,000. Welcome to Blu City Spaces! Want to live in a high-rise in Downtown St. Louis, just blocks from the new MLS stadium, Union Station, and Enterprise Center? When it comes to location, it doesn’t get any better than this 2 bedroom, 1 bath condo featuring a generously sized "great room" that can easily host both living and dining areas, private in-unit Washer/Dryer and a gorgeous balcony overlooking the city. Located within an amenity-filled building: 24-hour front door personnel, fitness center, outdoor terrace with gas grills, brand new community room with games and media, wifi lounge & more. Unit includes 1 assigned parking space in the covered/gated lot + 1 assigned storage closet located next to the unit.

210 N 17th Street Unit #601, St Louis
$75,000
22008555 MLS ⋅ ACTIVE Status
This is a investors dream!! Nice two family that you can receive great rents on or live in one side and rent the other! Located in a up an coming area that is getting nice rents. Also this is as-is deal seller will not do any repairs . Please feel free to drive by. Thanks and lets get or investment rollin with nolan!!

5931 Bartmer Avenue, St Louis
$71,500
3 Beds ⋅ 1 Baths ⋅ 22050196 MLS ⋅ ACTIVE UNDER CONTRACT Status
Make this home yours. It's cute, affordable and clean. It has 3 bedrooms and 1 bath. Living-room has a tall ceiling with large windows that provide great light. Nice eat-in kitchen with ceramic floors. Yard is level and partially fenced in. Great for bbq's or a garden. Nice deck that wraps around the side of house. You are close to highways, stores and River City Casino. Sold "As Is". Great Location. Don't miss this one!! Great Investment property. The adjoining lot is part of the sale. This is a short sale with NO BUYER FEES! ("SUBJECT-TO" OFFERS WILL NOT BE ACCEPTED.)

419 Little Broadway Street, St Louis
$51,600
3 Beds ⋅ 1 Baths ⋅ 22068874 MLS ⋅ ACTIVE UNDER CONTRACT Status
SHORT SALE: Property sold “as-is” in current condition. No repairs, warranties, disclosures, or inspections provided by seller. All offers subject to lien holder(s) approval. Buyer proof of funds or pre-qual letter and addendum to contract is required. Submit all offers on Special Sales Contract with Rider. Needs TLC, not updated, needs foundation work, new roof, moldtype, broken appliances. Some plumbing needed, waterproofing of basement needed.

3205 Regal Place, St Louis
$49,900
21084645 MLS ⋅ ACTIVE Status
INVESTOR SPECIAL!! LETS THIS BE YOR CASH COW! This could be a opener occupy or rent both units out for aultimate return. Each units are spacous with 2 bedrooms and 1 bath on each floor. The only major concern with this unit is the sewer lateral, which the seller received a really good bid for. Both units need to be cleaned out and freshly painted. Hardwood floors throughout are in really good condition. Make your offer TODAY!

5418 Partridge Avenue, St Louis
$32,000
3 Beds ⋅ 2 Baths ⋅ 22068137 MLS ⋅ ACTIVE UNDER CONTRACT Status
SHORT SALE: Property sold "as-is" in current condition. No repairs, warranties, disclosures, or inspections provided by seller. All offers subject to lien holder(s) approval. Buyer proof of funds or pre-qual letter and addendum to contract is required. Submit all offers on Special Sales Contract with Rider. Needs TLC, not updated, needs HVAC, basement water leak, needs roof replaced, flooring not usable, appliances unknown.

5372 Priorybrook Road, Black Jack
$20,000
3 Beds ⋅ 1 Baths ⋅ 22014281 MLS ⋅ ACTIVE Status
Quality abounds with this lovely home located in Shirley Terrace neighborhood. This home is being sold as a short sale, $4,000.00 short sale fee to be paid by buyer at closing. This home is being sold AS-IS. This home is in early stages of SS process.

8747 Shirley Avenue, St Louis
$19,900
3 Beds ⋅ 1 Baths ⋅ 22069625 MLS ⋅ ACTIVE UNDER CONTRACT Status

1007 Pine Street, St Charles
$19,900
4 Beds ⋅ 2 Baths ⋅ 21068425 MLS ⋅ ACTIVE UNDER CONTRACT Status
SHORT SALE: Property sold "as-is" in current condition. No repairs, warranties, disclosures, or inspections provided by seller. All offers subject to lien holder(s) approval. Buyer proof of funds or pre-qual letter and addendum to contract is required. Submit all offers on Special Sales Contract with Rider. Needs TLC, not updated, needs electrical/plumbing work, some roof issues, carpet not usable, concrete settling, remediation needed, Unsafe stairs, appliances unknown.

4733 S Broadway, St Louis
$10,000
2 Beds ⋅ 1 Baths ⋅ 22006164 MLS ⋅ ACTIVE UNDER CONTRACT Status
2 bedroom 1 bath all brick home with finished attic space! This home has off street parking behind the house and a walk out basement! Home will be listed for 7 days prior to accepting an offer.

5000 Plover Avenue, St Louis