July 2009 
There are 1 blog entries for July 2009.
Short Sales F.A.Q.
Thursday, July 30th, 2009 at 1:28pm. 134 Views, 0 Comments.
What is a short sale?
A short sale describes a situation where the lender agrees to take less money than they are owed on a property at time of sale. There may be more than one lender with a lien on the property.
Who is the seller in a short sale?
The individual owner is still in title, they have not been foreclosed on. In some cases foreclosure is imminent. In other cases the seller may not be behind. In all cases the seller owes more to the bank than they are trying to sell it for.
How come some short sales are so much less than other homes on the market?
If a seller is in a "short sale" listing, there is no equity in the home and they are not going to make any money. Many short sales listings continue to lower their price in order to attract an offer. There…
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