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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

$300,000
2 Beds ⋅ 2 Baths ⋅ 23013585 MLS ⋅ ACTIVE Status ⋅ Verde Place Condo BLDG.
Walk to everything Clayton has to offer from this charming 2 bedroom, 2 bath condo. The is the main floor unit of this two-unit building. The great room features tons of natural light leading to the Dining room.

408 S Hanley Drive Unit #A, Clayton
$184,900
22072789 MLS ⋅ ACTIVE UNDER CONTRACT Status
Brick duplex in sought after Ellendale neighborhood location near Maplewood. 1-Bedroom 1 Bath units with a total of 1848 sq ft. Lot is 4059 square and has off-street parking. 1st Floor unit rents at $675 monthly with a lease end date of 2/28/2023 2nd Floor unit is vacant for showings with access to the basement. DO NOT DISTURB 1st fl. tenant. Property to be sold in its current as-is condition.

7117 Rabenberg Place, St Louis
$179,000
3 Beds ⋅ 3 Baths ⋅ 23016615 MLS ⋅ ACTIVE Status
Calling all investors! This diamond in the rough is ready for someone to help it shine shine again. Lots of positives here! 3 bedrooms, 2 and a half bathrooms, over 1/2 acre fenced flat lot, ranch floor plan, wet bar in basement, the list goes on!

4219 Christus Court, Florissant
$152,500
3 Beds ⋅ 2 Baths ⋅ 23004152 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 Short Sale Rider. No trespassing- Shown by confirmed appointment only. Per seller: Roof replaced and HVAC updated within last 2 years. Dishwasher is broken, Basement may leak at southwest corner.

2255 Wheatfield Drive, Florissant
$114,900
3 Beds ⋅ 2 Baths ⋅ 23014884 MLS ⋅ ACTIVE UNDER CONTRACT Status

1660 Cobblestone Creek Drive, Florissant
$110,000
3 Beds ⋅ 1 Baths ⋅ 23009077 MLS ⋅ ACTIVE UNDER CONTRACT Status
Quality abounds with this lovely home in very desirable neighborhood. This is a short sale. $4,000 short sale fee to be paid by any buyer at closing. Property to be sold as-is.

2313 Mariposa Drive, O'Fallon
$99,000
2 Beds ⋅ 1 Baths ⋅ 22072082 MLS ⋅ ACTIVE Status
Please, no show until 12/14/2022. This brick bungalow was remodeled in 2005 by previous owner. The remodel included tilt in thermal insulated windows, updated kitchen and bath, roof, furnace and central air. It is on a quiet dead end street with no traffic to speak of.

4616 S 38th Street, St Louis
$80,000
2 Beds ⋅ 1 Baths ⋅ 22071639 MLS ⋅ ACTIVE 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. New list price is previously approved by lender. Please submit all offers on special sales contract along with SS rider and buyer POF.

3541 Itaska Street, St Louis
$79,999
22008540 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 a 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. The 2500 short sale fee to be paid by buyer at closing. Thanks

1321 Montclair Avenue, St Louis
$78,000
2 Beds ⋅ 2 Baths ⋅ 23009755 MLS ⋅ ACTIVE Status ⋅ Sugartree Ten BLDG.
This is a short sale, property being sold As-Is. Please use Special Sale Contract form #2043. Seller will not provide inspections or warranties. BEAUTY IS IN THE EYE OF THE BEHOLDER. 1 LEVEL, 2 BEDROOMS, 1.5 BATHS, FAMILY ROOM WITH SLIDING GLASS DOOR ONTO A PRIVATE PATIO. END UNIT, VERY PRIVATE AND QUIET, JUST NEEDS SOME TLC.

2460 Forest Shadows Drive, St Louis
$76,900
1 Beds ⋅ 1 Baths ⋅ 23001773 MLS ⋅ ACTIVE UNDER CONTRACT Status
Negotiating a Short Sale with the Lender.

1195 Rue La Chelle Unit #1195, St Louis
$75,900
2 Beds ⋅ 1 Baths ⋅ 23003902 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 mostly 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
$74,500
3 Beds ⋅ 1 Baths ⋅ 23008498 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 Tuckpointing, basement water leak, some Plaster issues, carpet not usable, appliances unknown, unsafe railing, smoke damage , water damage.

2829 Sulphur Avenue, St Louis
$70,000
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 a coming area that is getting nice rents. Also, this is as-is deal seller will not do any repairs. The 2500 short sale fee to be paid by buyer at closing. Please feel free to drive by. Thanks

5931 Bartmer Avenue, St Louis
$65,500
22008617 MLS ⋅ ACTIVE Status
This is an 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 a coming area that is getting nice rents. Also, this is as-is deal seller will not do any repairs. The 2500 short sale fee to be paid by buyer at closing. Thanks

2708 Keokuk, St Louis
$61,900
2 Beds ⋅ 2 Baths ⋅ 23012503 MLS ⋅ ACTIVE UNDER CONTRACT Status

1330 Sunview, O'Fallon
$61,900
3 Beds ⋅ 3 Baths ⋅ 23011576 MLS ⋅ ACTIVE UNDER CONTRACT Status

623 Buglerun, Florissant
$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
$50,000
2 Beds ⋅ 1 Baths ⋅ 22069473 MLS ⋅ ACTIVE UNDER CONTRACT Status
Located on a one way street of tidy brick houses, check out this affordable two bedroom charmer. New flooring recently installed in most rooms. The main level features two bedrooms, full bath, good sized kitchen and a bright, sunny living room. The basement features a finished family room, and the rest of the area for convenient storage space and laundry. The basement walks out to the attached one car garage for ease of carrying in groceries and other items. The Urban League Weatherization Program was done in 2015. Home is city code compliant, but is other wise being sold in "as is" condition and does need a new roof and other repairs. Sewer line was completely replaced with PVC seven years ago. This is a short sale and as such all offers are contingent on lien holder approval.

5542 Era Avenue, St Louis
$35,999
22008568 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 a coming area that is getting nice rents. Also, this is as-is deal seller will not do any repairs. The2500 short sale fee to be paid at closing by buyer. Please feel free to drive by. Thanks

5894 Wabada Avenue, St Louis