A“short sale” is an option for a homeowner to avoid foreclosure when they can no longer afford the mortgage payment on the home.  In a short sale, the lender allows the borrower to sell the property at its current value, even if the sale nets less than the total amount owed on the mortgage.  The lender agrees to pay the seller’s commissions, closing costs, and reasonable attorney and title fees charged in most real estate short sale transactions.  The terms of the short sale approval are as much a part of the negotiations as is the buyer’s offer.  In most cases, the lender allows the property to be sold at fair market value and releases the seller from any future financial obligation to the lender’s loss.  

In order for a lender to agree to a short sale, they usually require the homeowner to list their property for sale at fair market value, provide financial information to the lender to confirm hardship, and only accept an offer from a buyer that is “arm’s length” in the transaction.  In most cases, it is in the best financial interests of the lender to approve a fair short sale offer than foreclose on the property.

Short sales can be very technical and complex transactions involving careful coordination and close cooperation among a number of parties – lenders, sellers, buyers, attorneys, real estate brokers, title agencies, and often mortgage insurance companies and junior lien holders.  When foreclosure is the alternative, a short sale usually provides a better outcome for the seller, lender, and the community in which the property is located.


If you have suffered job loss, income loss, medical expenses, or excessive use of credit to make it through these difficult economic times, you are not alone.  One in seven American homeowners are currently behind on their mortgage payments due to unforeseen and unavoidable financial hardship.  40% of Minnesota homeowners owe more than what their property is worth.  Foreclosure or bankruptcy are not inevitable as the short sale of your house may be your remedy allowing for a restart toward a better financial future for you and your family.

Here at TEAM KRUSE, we have teamed up with the attorneys at Markve and Zweifel Law Firm; a leader in short sale seller representation here in Minnesota.  Our focus together is simply to advocate for you through the entire short sale process allowing for the best possible outcome of your short sale approval process.  Because the short sale transaction and process is complex, it is critical that you are represented by an experienced attorney that can help you through the process and make sure it goes as smoothly as possible.

Your legal representation with Markve and Zweifel Law Firm begins with a no charge consultation to determine if a short sale is in your best interests.  The representation continues with attorney guidance in preparing a short sale package that best represents your case to your lender for the most favorable outcome.

How do you get started?  Call 763-450-1639 today to schedule your no charge consultation with a short sale attorney at Markve and Zweifel Law Firm.  Complete the Pre-Consultation Questionnaire 
(click here) and email to [email protected] or fax to 763-447-6458 in advance of your consultation.