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If you’re in New York, New York and searching for “short sale realtors near me,” you’re likely looking for a knowledgeable advocate who can protect your credit, minimize financial fallout, and move your sale forward before a foreclosure timeline catches up. Short sales in NYC are not like anywhere else: co-ops add board approvals and UCC filings, condos bring common charge liens, brownstones can have multiple violations, and lenders demand a complete, airtight package to even begin review. That’s where Daniel S. Colomban at Skyler Realty LLC comes in.
Daniel pairs meticulous, bank-ready documentation with deep neighborhood experience across Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. From Washington Heights co-ops and East Village walk-ups to Bay Ridge single-family homes and Astoria condos, he knows how to price, package, and negotiate short sales the way NYC lenders, boards, and attorneys expect.
Whether you’re a seller in pre-foreclosure seeking relief or a buyer looking for opportunity with realistic timelines, this guide explains how short sales work in New York City—and why partnering with a local specialist like Daniel at Skyler Realty LLC can make the difference between a stalled file and a closed deal. To learn more or request a discreet consultation, visit: daniel-s-colomban-skyler-realty-llc.skyler-realty.com.
New York is a judicial foreclosure state, which means foreclosures go through the courts and can take time. That’s both a risk and an opportunity. A pending foreclosure doesn’t automatically stop a sale, but proactive communication with the lender can pause certain steps when the bank sees a credible short sale in process.
Unique NYC factors include: - Co-ops: You’re not selling real property—you’re selling shares plus a proprietary lease. Expect board approval and a UCC lien instead of a mortgage. The co-op’s arrears and flip taxes must be resolved in the numbers, and some boards have transfer requirements or right of first refusal that affect timelines. - Condos: Common charges and special assessments can become liens. The condo board will need to provide payoff figures for arrears, and the lender will scrutinize the building’s financials and litigation. - Townhouses/brownstones and multi-family: Open violations, ECB fines, and HPD issues can stall closings. Water/sewer and property tax arrears require Department of Finance payoffs in the bank’s net sheet. - Multiple liens: It’s common to see a primary mortgage, a HELOC, condo/co-op arrears, municipal liens, and sometimes judgment creditors. Coordinating full or partial releases across several lienholders is a specialized negotiation.
A short sale realtor in NYC must be fluent in these layers—and able to structure a deal where every stakeholder sees a reason to say yes. That’s standard operating procedure for Daniel S. Colomban and Skyler Realty LLC.
When people search “short sale realtors near me,” they often expect typical listing services. In reality, a strong NYC short sale agent functions like a deal architect and a negotiator. Here’s what Daniel does that most traditional agents don’t:
Every case is unique, but here’s what sellers in New York can expect working with Daniel:
1) Discovery and strategy - Discuss your mortgage status, hardship, arrears, and goals. - Pull a property profile and check for liens or violations. - Map a path: short sale, loan mod attempt, deed-in-lieu backup, or a combination.
2) Market-ready positioning - If occupied, prepare for discreet showings and lender-required photos. - Price the home based on similar NYC sales—Upper East Side co-ops are very different from Bushwick townhomes—and on what the bank is likely to accept.
3) Offer procurement and contract - Secure a qualified buyer willing to wait through approval (often 60–180+ days). - Execute a contract contingent on short sale approval; buyers submit proof of funds or a strong pre-approval.
4) Short sale package submission - Assemble the hardship letter, financials, listing agreement, offer, and preliminary HUD. - Send to the lender’s short sale portal or specialist; obtain a case number and assigned negotiator.
5) Valuation and negotiation - Lender orders a BPO or appraisal. Daniel provides comps and market commentary (e.g., construction nearby, building condition, HDFC restrictions) to support value. - Negotiate price, closing costs, attorney fees, and lien releases. Requests for seller relocation assistance may be considered depending on the loan.
6) Approval letter - The bank issues a letter stating the approved net, any deficiency waiver or balance terms, and the expiration date. - Daniel confirms board approvals (for co-ops/condos), clears title issues, and finalizes the buyer’s financing.
7) Closing - Coordinate attorneys, title, and building management for a smooth sign-off. - Ensure payoff figures are accurate on closing day to avoid last-minute delays.
Co-ops (Upper West Side, Sutton Place, Riverdale): Expect board package prep even in a short sale. Flip taxes or transfer fees need to be built into the lender’s net. If maintenance is in arrears, the co-op’s attorney must issue a payoff letter and agree to the reduced payoff from sale proceeds. A buyer’s board interview and financials can add time; Daniel sequences this so approval doesn’t expire.
Condos (Long Island City, Downtown Brooklyn, Financial District): Common charge and assessment payoffs are typical. Some condo bylaws require right-of-first-refusal waivers. Lenders will scrutinize building reserves and litigation that might affect collateral value—Daniel anticipates these questions with a building info packet.
Townhouses and multi-family (Bedford-Stuyvesant, Crown Heights, Astoria, Throgs Neck): Check for violations, illegal units, and open permits. Water/sewer and DOF taxes must be brought current at closing. If there are tenants, comply with NYC tenant protection rules and coordinate access respectfully to keep the deal on track.
Across NYC, block-by-block differences can swing a BPO. Daniel tailors comps to hyperlocal realities:
Getting the bank to see these distinctions is part of Daniel’s advantage as a local short sale realtor.
Credit impact: A completed short sale is generally less damaging than a foreclosure. Late payments do affect credit, but many sellers find they can rebuild faster post–short sale than post-foreclosure. The lender’s reporting policies matter; Daniel confirms how the bank will report the outcome.
Deficiency balance: In New York, a lender may pursue a deficiency in foreclosure. In a short sale, the approval letter should clearly state whether the deficiency is waived, settled, or subject to a repayment plan. Daniel negotiates for the most favorable terms possible and reviews the approval language with your attorney.
Tax implications: Canceled mortgage debt can be treated as taxable income, with exceptions and exclusions that may apply to principal residences under federal law. Because tax treatment depends on your situation, Daniel coordinates with your CPA or can refer local tax pros so you understand potential 1099-C issues before closing.
This is not legal or tax advice; always consult your attorney and tax advisor. Daniel ensures the right experts are looped in early to avoid surprises.
Short sales can be a value play, but only with realistic expectations: - Timeline: Plan for 2–6 months, sometimes longer with multiple liens or co-op approvals. - Financing: Use lenders comfortable with short sale timing. Rate locks may need extensions. - Inspection: “As-is” is common, though issues uncovered can inform negotiations if they affect the property’s value or the buyer’s ability to finance. - Consistency: Provide updated financials promptly if the bank requests refreshes; silence can stall approvals.
Daniel vets buyers to confirm they’re prepared for the process, which gives banks confidence and increases the odds of approval.
Backed by Skyler Realty LLC’s systems and local network, Daniel provides the structure and leverage you need to get from listing to approval to closing.
Can a short sale stop a foreclosure auction date? Often, evidence of a qualified buyer and an active review can justify postponement, but it’s not guaranteed. Early action creates the best chance. Daniel works with your attorney to notify the lender’s foreclosure counsel and request adjournments when appropriate.
Will I owe money after the short sale? It depends on your approval letter. Daniel’s goal is a clear deficiency waiver, but terms vary by investor and loan type. Your attorney will review the language before you sign.
What if my property has violations or tenants? Many short sales close with violations or occupied units, but these issues affect buyer pool, lender valuation, and insurance. Daniel helps address or price around issues and sets the right expectations with the bank.
Do co-ops even allow short sales? Many do, but timing and board requirements matter. Expect a thorough financial review of your buyer and allow extra time for processing. Daniel sequences board and bank milestones to prevent expirations.
Daniel assists sellers and buyers in: - Manhattan: Inwood, Washington Heights, Harlem, Morningside Heights, Upper West Side, Upper East Side, Midtown, Hell’s Kitchen, Chelsea, East Village, Lower East Side, Financial District. - Brooklyn: Greenpoint, Williamsburg, Bushwick, Bedford-Stuyvesant, Clinton Hill, Fort Greene, Brooklyn Heights, Downtown Brooklyn, Park Slope, Carroll Gardens, Bay Ridge, Sunset Park. - Queens: Astoria, Long Island City, Sunnyside, Woodside, Jackson Heights, Elmhurst, Forest Hills, Rego Park, Flushing, Jamaica. - Bronx: Riverdale, Kingsbridge, Fordham, Pelham Parkway, Throgs Neck, City Island. - Staten Island: St. George, Tompkinsville, New Dorp, Great Kills, Tottenville.
Local conditions—board policies, comps, and municipal payoffs—vary by neighborhood. Daniel’s on-the-ground experience saves time and avoids missteps.
The earlier you bring in a specialist, the more options you’ll have. Even if a foreclosure action has started, a well-prepared short sale can still be viable.
If you’re in New York and searching for “short sale realtors near me,” you want a partner who has seen every NYC twist—and knows how to get approvals anyway. Daniel S. Colomban at Skyler Realty LLC provides the strategy, documentation, and negotiation that get complex deals done across co-ops, condos, and 1–4 family properties.
Protect your credit, regain control of your timeline, and move forward with confidence. Learn more or request a consultation at: daniel-s-colomban-skyler-realty-llc.skyler-realty.com.
Whether you’re in a Park Slope brownstone, a Queens condo, a Riverdale co-op, or a Staten Island single-family home, Daniel and the Skyler Realty LLC team are ready to help you navigate your short sale from first call to successful closing—and finally put the stress behind you.
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