One of the questions that I am asked most frequently is “Do I need to tell anyone that my Philadelphia home is a short sale?” I think lots of homeowners are concerned about the stigma that comes with a Philadelphia short sale. You do have to let people know because any offer that is lower than the amount you owe on the mortgage would be a short sale. Accepting any short sale offer is contingent upon the bank’s approval. So, any prospective buyer needs to know your home is a short sale.

Furthermore, some buyers don’t want to deal with the waiting that can come with purchasing a short sale. Therefore, we need to let any potential party to this transaction know that your Philadelphia home is a short sale. In this day and age, there are lots of short sales today. The stigma of having to short sale your Philadelphia home is long gone. Don’t be concerned about who knows. This is an opportunity to move on with your life.