Considering a Connecticut short sale but want to know the pros and cons?

When you owe more than your Connecticut home is worth, but you need to sell anyway, a short sale is a possible solution. A short sale is the process by which a home is sold for less than is owed on the mortgage balance, allowing you to sell your home and move on, despite excessive mortgage obligations!

Read up on the pros and cons of pursuing a short sale!

Pros

Sell your home and walk away owing nothing, despite excessive mortgage debts.
Eliminate high mortgage payments.
Settle the mortgage debt with your lender.
Avoid excessive timeline and credit repercussions of foreclosure and deficiency judgments.
Pay no out of pocket closing costs or commissions to sell.
You may even receive relocation assistance from your lender.

Cons

Credit score will drop temporarily.
You may not be able to purchase another home for 2-3 years.
Short sales take several months and involve lots of paperwork.
Slight possibility you may face tax repercussions in a successful short sale.
You will have to deal with the inconvenience of selling your home.

Ready to move forward?

Whether you're ready to move forward with your Connecticut short sale, or still have more questions - we're here to help! We've helped hundreds of Connecticut home owners short sell and move on from their upside down homes since 2010, and we can help you!

CONSIDERING A SHORT SALE? CONTACT US!

I connected with Minna for my short sale and I knew instantly that she was the right person to help me! She is very well-versed with the short sale process and made me feel assured that we would get through it! The process was a long one and had a variety of bumps in the road but through it all, Minna stuck with it and stayed by my side all the way through! Then there is Jaime, Minna's assistant. Jaime went out of her way to assist me with any and all questions. She was patient and kind and never made me feel like I was a bother. If you are seeking a real estate team that is and will remain by your side - call Minna and Jaime! They will NOT let you down!!

~Alysia

Last Updated on August 11, 2025 by Minna Reid

CT short sale, short sale pro and cons

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About the author

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

PROS AND CONS OF A CONNECTICUT SHORT SALE