Yesterday, a client of mine asked me, “Who comes out on top in a Short-Sale”.  Short-sales are not only common in Laurel real estate, but every real estate market in the country.  As I explained to my client, it might be easier explaining who comes out on the bottom in a short sale than who comes out on top.  A short-sale occurs when a bank agrees to let a seller sell his property for less than he owns on the mortgage.  If the seller bought the property for $400,000 two years ago, but has to sell because he can no longer afford the mortgage.  Unfortunatly for the seller, the home is only worth $300,000 now.  The bank allows the seller to sell it for the lesser amount.  At this point the bank is going to take a $100,000 loss.  The seller, if he dosn’t have to make up the difference, walks away with nothing, but has no debt as a result of the sale.  Buyers, typically end up getting a home at current market price.  Both realtors involved in the transaction may receive a reduced commission from the bank.  So, when all is said and done, the seller probably comes out on top in the short-sale.