Short Sale Realtor in Rockville, Gaithersburg and Montgomery County, MD

When you owe more than your home will sell for, a short sale can open a clear, organized path forward.

Real Estate Search and Sale, LLC is the Short Sale Realtor many homeowners in Rockville, Gaithersburg, Germantown, Silver Spring and Frederick call when they need to sell a home that is worth less than the mortgage. People often find us by searching for "short sale Realtor near me," "how to sell my house if I owe more than it's worth" and "short sale agent Montgomery County." We list and market your home, organize the paperwork your lender asks for and keep the file moving from the first conversation through settlement.

Carolyn Thompson, Broker, brings more than 20 years of experience. Her credentials for this work: Certified Distressed Property Expert (CDPE), Short Sales and Foreclosure Resource (SFR) and Certified Residential Specialist (CRS).

Call Our 24-Hour Desk: 202-630-5070

What a Short Sale Is

A short sale is a home sale where the net proceeds aren't enough to pay off the mortgage, so the lender must approve accepting less. The first mortgage is a lien and usually holds first priority, which is why that lender's approval sits at the center of the process. If there is a second mortgage, a home equity line of credit, a homeowners association balance or another lien, each of those holders may also need to agree before the sale can close.

Short sales are common in every market cycle. A job change, a divorce, a medical situation, a death in the family or a home purchased at a market peak can all leave an owner with more debt than equity. Many homeowners first work with their lender to keep the home, through options such as a loan modification, a repayment plan or forbearance. When keeping the home is not the right fit, a short sale is one of several options a homeowner may want to discuss with a HUD-approved housing counselor, who can often help at no cost.

How a Short Sale Realtor Helps You

A Short Sale Realtor handles the real estate side of a sale that needs lender approval. At Real Estate Search and Sale, LLC, our role is to facilitate. We prepare and organize documents, request payoff statements, submit the file and follow up with lienholders until we receive an answer. Negotiating with the lender is the seller's or the seller's representative's responsibility, and many sellers choose to have a real estate attorney represent them in that part of the process. Upon request, we will do a three-way call with you and your lender.

Here is what that looks like day to day:

Listing, pricing guidance, photography and marketing to buyers and their agents
A clear checklist of the financial documents your lender will likely request
Payoff requests to each lienholder and to your homeowners or condominium association, if any
Organized submission of the offer and supporting documents
Regular follow-up with each lienholder and prompt updates to you
Coordination with the buyer's agent, the title company and the settlement attorney

The Short Sale Process, Step by Step

1. A confidential consultation

We start by listening. We talk about your goals, your timeline, your loans and any notices you have received. If you have not yet spoken with your lender or a housing counselor about options to stay in the home, we encourage you to do that, and we can share contact information for HUD-approved counseling agencies.

2. Gathering your information

Lenders typically ask for a hardship letter, recent pay stubs or income records, bank statements, tax returns and a financial worksheet. Requirements vary by lender and loan type, so we give you a checklist and help you keep everything organized in one place.

3. Pricing and preparing the home

We give you a suggested price range based on recent sales of the homes closest to yours in location, style, size, age and condition, adjusted for condition. A comparative market analysis is a broker opinion of value, not an appraisal. You set the list price, and the lender will usually order its own valuation later in the process.

4. Listing and marketing

Your home is marketed like any other listing, with clear disclosure that the sale is subject to lender approval. Buyers decide what to offer. We help you review each offer and its terms, including the buyer's financing and timeline.

5. Submitting the offer to the lienholders

Once you accept an offer, we submit the contract and your documents to each lienholder and confirm receipt. Most lenders use online portals, and we track every upload and request.

6. Follow-up during the lender review

The lender may order a broker price opinion or appraisal, ask for updated documents or request changes. We respond quickly, keep the buyer's agent informed and keep you updated on every development.

7. Approval and settlement

When the lender issues a written approval, we work with the title company or settlement attorney to meet its terms and closing date. Before you sign, ask your attorney to review the approval letter, including any language about remaining balances, and ask your CPA about any tax questions.

What to Expect on Timing

Every short sale moves at its own pace. Lender review commonly takes several weeks and can take longer when there is more than one lienholder, when an investor or mortgage insurer must also sign off, or when documents need updating. A well-organized file submitted promptly often moves more smoothly, which is why we put so much attention into preparation. We cannot promise a particular timeline or outcome, but we can promise steady follow-up and clear communication.

Who We Work With

Our short sale clients include owner-occupants, landlords with tenant-occupied homes, heirs handling an inherited property, divorcing spouses, military families on orders and owners who now live out of state or overseas. Remote closings for out-of-state and overseas sellers are a specialty, and we have closed sales for sellers living outside the country. Most of our business comes from referrals, including from attorneys, housing counselors and other real estate agents.

Questions to Bring to Your Professionals

A short sale touches legal, tax and credit topics that are outside a real estate broker's role. We encourage you to ask the right professional:

A real estate attorney: how a short sale fits your situation, what the approval letter means and how any remaining balance may be handled
A CPA or tax professional: whether forgiven debt may have tax consequences for you
A HUD-approved housing counselor: how a short sale compares with other options, such as a loan modification or deed in lieu of foreclosure

Having those answers early helps you make a confident decision and keeps the sale moving.

Communities We Serve

These are a sampling of the many communities Real Estate Search and Sale, LLC serves.

Rockville MD: Rockville Town Square and Pike & Rose
Gaithersburg MD: Downtown Crown and Bohrer Park
Germantown MD: Black Hill Regional Park and the Germantown Town Center
Silver Spring MD: Downtown Silver Spring and Sligo Creek Park
Frederick MD: Carroll Creek Park and Baker Park

This is only a sampling; we serve many more communities throughout Maryland, Washington DC, Virginia, West Virginia and Florida.

Outside our service area? We can refer you to a local real estate professional.

Frequently Asked Questions

What does a Short Sale Realtor do, and what does Real Estate Search and Sale, LLC not do?
A Short Sale Realtor lists and markets the home, helps the seller assemble the lender's required package, requests payoffs and follows up with lienholders. The seller or the seller's representative negotiates with the lender, and the lender decides whether to approve the sale. Carolyn Thompson holds the Short Sales and Foreclosure Resource (SFR) and Certified Distressed Property Expert (CDPE) designations.

How does a short sale work in Maryland?
You list the home, accept an offer and then submit that offer with your financial documents to each lienholder for approval. The sale closes only after every required lienholder approves in writing.

Do I need a Short Sale Realtor, or can any agent handle it?
Any licensed agent can list a short sale, but the paperwork and lender follow-up add steps a regular sale does not have. Working with an agent experienced in short sales can help keep the file organized and moving.

Does Real Estate Search and Sale, LLC negotiate with my lender?
Our role is to facilitate: we organize documents, request payoffs and follow up with lienholders. Negotiating with the lender is the seller's or the seller's representative's responsibility, and upon request we will do a three-way call with you and your lender.

How long does a short sale take?
It varies by lender, loan type and the number of lienholders. Lender review often takes several weeks or longer, and we keep you updated at every stage.

Can I do a short sale if I am current on my mortgage?
Some lenders will review a short sale for a borrower who is current, depending on the hardship and loan program. Ask your lender, and talk with a HUD-approved housing counselor or attorney about your options.

Will I owe money after a short sale?
That depends on your loans, your state's laws and the terms of the lender's approval. Ask your real estate attorney to review the approval letter and your CPA about any tax questions before you sign.

Can I sell my house as a short sale if I live out of state?
Yes. Remote closings for out-of-state and overseas sellers are a specialty of ours, and we have closed sales for sellers living outside the country.

Can I get references?
Yes. We provide a list of client and professional references on request.

Related Services

Call Our 24-Hour Desk: 202-630-5070

Request a Confidential Consultation

Help Locating Independent Service Providers

Short sale sellers often look for real estate attorneys, HUD-approved housing counselors, CPAs, home inspectors, cleaners, handymen and movers. We can provide contact information for independent service providers, and you are free to use any provider you like. Providers should be properly licensed and insured. When you schedule your providers, we help coordinate the logistics around showings, access and settlement.

Real Estate Search and Sale, LLC does not endorse, guarantee or receive compensation from any service provider. Please interview and verify any provider you choose.

References Available on Request

We will gladly provide a list of client and professional references on request.

Talk With Us Confidentially

Call our 24-Hour Appointment Desk at 202-630-5070, any time, day or night.

Carolyn Thompson, Broker
CRS · ABR · SRES · SFR · CDPE · MRP · CDS
Real Estate Search and Sale, LLC
1300 Piccard Drive, Suite 204, Rockville, MD 20850
800 Park Drive, Blacksburg, VA 24060
24-Hour Appointment Desk: 202-630-5070 · Open 24 hours
Licensed in MD • DC • VA • WV • FL · Equal Housing Opportunity