Short Sale Help in Northwest Arkansas

If you owe more on your home than it's worth and you're struggling to keep up with payments, a short sale may let you sell, avoid foreclosure, and start fresh. In a short sale, your lender agrees to accept less than the full loan balance so the home can be sold.

Short sales aren't simple. Your lender has to approve the price, the buyer, and the terms, and every lender has its own paperwork and rules. That's why it matters who you hire. Kendra Murphy, Principal Broker of Kendra & Co Realty, is a Certified Short Sale Expert (CSSE) through the National REO Brokers Association, with more than 20 years of experience negotiating short sales across Benton and Washington Counties.

Most homeowners pay nothing out of pocket for our short sale services. The consultation is free and confidential. Call 479-236-4784.

What Is a Short Sale?

A short sale happens when you sell your home for less than what you owe on the mortgage, and your lender agrees to accept the sale proceeds as payment. Instead of the bank taking the home through foreclosure, you sell it on the open market with your lender's approval.

Is a Short Sale Right for You?

A short sale may be a good fit if:

• You owe more on your mortgage than your home would sell for today
• You've had a financial hardship, such as job loss, reduced income, divorce, medical bills, a death in the family, or a job transfer
• You're behind on payments or know you won't be able to keep up
• You'd rather sell on your own terms than let the home go to a foreclosure auction

If you have equity in your home, a traditional sale may be a better option. We'll help you figure out which path makes sense.

Short Sale vs. Foreclosure

• Who controls the sale: with a short sale, you do, with lender approval. With a foreclosure, the lender sells the home at auction.
• Credit impact: a short sale is usually less damaging than a completed foreclosure.
• Buying again: many homeowners can qualify for a new mortgage sooner after a short sale than after a foreclosure.
• Moving timeline: a short sale lets you plan your move. A foreclosure sets the date for you.
• Remaining balance: with a short sale, it can often be negotiated or waived. After a foreclosure, the lender may pursue it.

How the Short Sale Process Works in Arkansas

1. Free consultation. We review your loan, your home's value, and your timeline, and talk about whether a short sale is the right move.
2. List the home. We price your home based on today's Northwest Arkansas market and market it to qualified buyers.
3. Gather your documents. We help you put together the hardship letter, financial statements, and other paperwork your lender requires.
4. Accept an offer. Once you have a buyer, the offer goes to your lender as part of a complete short sale package.
5. Negotiate with the lender. The lender will order its own valuation and review the file. Kendra handles the back-and-forth so you don't have to.
6. Get written approval. When the lender approves, you'll receive an approval letter that spells out the terms, including how any remaining balance is handled.
7. Close and move forward. The sale closes, the loan is settled, and you get to start fresh.

Lender approval often takes several weeks to a few months. If a foreclosure sale is already scheduled, contact us right away, because timing matters.

Why Work With a Certified Short Sale Expert?

• CSSE designation: Kendra has specialized training in short sale negotiation through the National REO Brokers Association.
• Lender experience: we know how servicers review short sale files and what slows them down.
• Local knowledge: we price homes accurately for Bella Vista, Bentonville, Rogers, Springdale, Fayetteville, Pea Ridge, Centerton, Lowell, Gravette, and the rest of Northwest Arkansas.
• Your side of the table: our job is to protect your interests, including asking your lender to waive any remaining balance in writing.

Short Sale FAQs

How long does a short sale take in Arkansas?

Most short sales take a few months from listing to closing. The biggest variable is how quickly your lender reviews and approves the sale.

Will I owe money after a short sale?

It depends on your lender's approval. Some lenders agree to waive the remaining balance, and others don't. We always ask for a waiver and make sure the terms are in writing before you close. An Arkansas real estate attorney can review the approval letter with you.

Do I have to be behind on payments to do a short sale?

Not always. Many lenders want to see a real financial hardship, but you don't always have to miss payments first. Talk with us before you stop paying.

Does a short sale cost me anything?

In most short sales, the agent's commission and closing costs are paid from the sale proceeds with the lender's approval, so most sellers pay nothing out of pocket.

Will a short sale stop a foreclosure?

A short sale can stop a foreclosure if the lender approves it before the foreclosure sale. Ask your lender to postpone the sale while your short sale is under review, and contact us as early as possible.

Are there tax consequences?

Forgiven mortgage debt can sometimes be treated as income. Talk with a tax professional about your situation.

What Homeowners Say

"Kendra came to my rescue listing for sale my property which had been on the market for 6 months with no buyer. With Kendra a buyer was found within a few days with a Short Sale preventing my property going into a Foreclosure."

Darrel Kibby, Google review

"We had exhausted all avenues and were on the verge of bankruptcy in fact we had a bankruptcy attorney lined up until Kendra heard our story and she stepped in and said let me help… Completely handled everything, explained everything along the way in detail so we knew exactly what was going on and why… excited to rebuild our credit after Kendra handled our short sale."

Kris Kaufman, Google review

Talk With a Northwest Arkansas Short Sale Specialist

The sooner you reach out, the more options you'll have. Call 479-236-4784, email kendra@kendra-co.com, or request a free, confidential consultation below.

Live outside Arkansas? Kendra can still help with your short sale, wherever your home is in the U.S. Call 479-236-4784 to talk through your options.

Kendra & Co Realty is a real estate brokerage, not a law firm or tax advisor, and the information on this page is not legal, tax, or financial advice. Please consult an Arkansas real estate attorney or tax professional about your specific situation.