Short Sales: For Commercial Properties Also?

As the landscape of the American real estate market continues to erode, many borrowers are increasingly turning to loss mitigation specialists to help negotiate "short sales" to avoid foreclosure. Experts report that the growing inventory of homes on the market has helped in this surge and there is no foreseeable relief in many areas across the country. Are short sales just an opportunity to bailout homeowners?

Woodland Hills, CA (PRWEB) July 28, 2007 -- As the landscape of the American real estate market continues to erode, many borrowers are increasingly turning to loss mitigation specialists to help negotiate "short sales" to avoid foreclosure. Experts report that the growing inventory of homes on the market has helped in this surge and there is no foreseeable relief in many areas across the country. Are short sales just an opportunity to bailout homeowners?

Raffi Tal, Chief Operating Officer of I Short Sale, Inc. (www.ishortsale.com) reports, "We continue to help borrowers that own commercial properties throughout the country. At first, all we were seeing were homeowners; but sure enough the investors followed and we were here to help!"

For commercial investors, financial hardship occurs when you least expect it. A new shopping plaza opens down the street and your retail outlet can no longer generate enough revenue to cover monthly costs; you cannot rent warehouse space because the local railroad track is under construction; or the once thriving manufacturing facility has to shut down its doors due to overseas production. Unforeseen circumstances can arise at a blink of an eye forcing a property owner into foreclosure. In the commercial sector, the expertise of the negotiator is even more critical due to the complexity of the underlying property.

"With foreclosures reaching a record high this year, it is no wonder that so called "specialists" are popping up everywhere. Often these specialists concentrate only on one specific region of the residential market," suggests Tal. "With our experience from the last cycle in the early '90s, we have a business model that caters to all types of property owners, including industrial, office, retail, and multi-family."    

A short sale is an agreement wherein the lender allows for the property owner to sell the property at a price lower than the current mortgage debt amount. As short sales require additional time and effort from both the property owner and/or the realtor, many people turn to loss mitigation specialists to negotiate with lenders, as well as find buyers to purchase their distressed real estate.

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