Short Sales in Miami

Short sales in Miami: what the local numbers change

In Miami the property type decides how a short sale file behaves. Houses are at 5.2 months of supply, closing in a median 43 days at 97% of ask. Condominiums and townhouses are at 12.7 months, 64 days and 96%. A lender reviewing a Miami condominium is being asked to accept both a shortfall and a longer marketing window, and unpaid HOA (homeowners association) dues on a Miami condominium frequently become their own negotiation inside the file.

Timing is the whole game. If a foreclosure case is already filed, the calendar belongs to the court and to your lender, not to the listing. That is why the legal question comes before the real-estate question in Miami, and why we say plainly that PBP will not answer it for you.

What a short sale actually is

A short sale is a sale where the agreed price will not cover what is owed against the property, so the lienholders have to agree to accept less than their full payoff and release their liens at closing. Nothing happens because you want it to: every material term runs through lender approval, and a signed contract with a buyer is the beginning of that process, not the end of it.

A short sale is not a foreclosure, and it is not automatically better or worse than one. It is one option among several, alongside a conventional sale if there is enough equity, a loan modification, forbearance, a deed in lieu, or bankruptcy protection. Which of those is right for you depends on numbers and law that belong to your lender, your attorney and your tax professional, not to a real-estate brokerage.

Where the market evidence fits

Lenders decide short sales on evidence, and Miami-Dade evidence is currently mixed by property type. Houses are running at 5.3 months of supply with 2026 closings at a median 45 days on market and 97% of the last asking price. Condominiums and townhouses are at 13.2 months, 69 days and 96%. A condominium file therefore has to survive a longer marketing window than a house file, which matters when a lender's approval or a scheduled foreclosure sale date has a clock on it.

PBP publishes market data only. No pricing opinion or automated estimate of your property is produced on this site; short-sale approval amounts are set by your lender.

The boundaries we will not cross

The lender decides. Approval, the payoff shortfall, whether a deficiency is waived, any relocation contribution, and the closing timeline are the lienholders' decisions. Second mortgages, HOA (homeowners association) liens, tax liens and mortgage insurers each get a say, and each can stop a file.

Legal questions go to a lawyer. Deficiency exposure, the wording of an approval letter, foreclosure timelines and defenses, title problems and probate or divorce complications are legal work. A Florida real-estate attorney answers those.

Tax questions go to a tax professional. Forgiven debt can be reported to the IRS and can be taxable. A CPA or enrolled agent answers that, in writing, before you sign anything.

Credit questions go to your lender or a HUD-approved counselor. How a short sale will appear on your credit and how long it affects future financing is not something a brokerage should promise you.

Nobody should charge you an upfront fee to negotiate a short sale for you. In a normal short sale the negotiated commission is paid at closing out of the seller's side, subject to lender approval. If a company asks for money up front to stop a foreclosure, treat that as a warning.

How PBP helps in Miami-Dade

PBP Real Estate is a Florida licensed brokerage (CQ1064615) with agents based in Miami-Dade as well as Palm Beach and Broward, under Gia Freer, Broker of Record. Tell us what you are weighing and a licensed PBP agent will respond directly. Your information stays with PBP. A PBP agent who works short sales will handle the lender package, the marketing and the closing directly; PBP does not give legal or tax advice.