Luxor Homes featured in New York Times for Short Sale Expertise

Our firm has been featured in the New York Times for our expertise in distressed property sales and consultations. In an article entitled The Roller-Coaster Ride Called A Short Sale  by Vivian S. Toy, Ms. Toy writes about the ups and downs of the short sale process in New York City.


One of the most important statements in the article talks about how seller's must protect themselves from further financial exposure after a short sale closing. Ms. Toy correctly points out that "because lenders can always sue after a short sale for what is still owed on a mortgage, sellers are advised to ask their lenders to waive the right to sue. But even with a waiver, lenders will often try to make up some of what is owed, either by seeking a cash payment at the closing or a promissory note. Any amount that is forgiven can be considered income by the Internal Revenue Service."


How we deal with this issue differentiates our firm from other real estate firms. As part of the short sale process we always negotiate a written release of further liability against the homeowner. This can be easily missed by less experienced short sale negotiators. In their haste to close the deal, they do not realize that any release of liability must be in writing.


We take pride in the work we do for our clients.

One of Our Top Luxor Associates, Mable Ivory, Was Featured on NY1

Mable Ivory has lots of flair and serious passion about real estate. She was featured in a NY1 Interview about : What NYC Real Estate Can You Rent For $2200? Mable is talking about her niche neighborhood, Upper Manhattan. By the way if you somehow missed it, Mable, was featured in NY1 last year in Grand Concourse (Bronx) Paves Way For Real Estate Comeback.

Even in this slow economy, Mable understands that clients are looking for affordable housing and sellers are more than happy to sell at the right price.

Go Mable Go!!!