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Before the housing meltdown, the term "short sale" was hardly part of the residential real estate vernacular. But now that about 11 million homeowners owe more than their homes are worth, millions ...
A short sale isn’t as straightforward as a traditional real estate transaction. You might need to work with an experienced real estate agent to find properties, and potentially with an attorney ...
The term "short sale" is enough to make many homebuyers bolt out the door in a panic. But when Jennifer Craft and her husband discovered that the house of their dreams was listed with the often ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
A short sale can affect credit as little as 50 points as opposed to a foreclosure, which could affect credit rating by more than 300 points. A deed in lieu of foreclosure has a much more devastating effect on the borrows credit. In addition, a short sale or short refinance will be recorded with credit bureaus as paid in full or settled for less.
Closing is a sales term which refers to the process of making a sale. The sales sense springs from real estate, where closing is the final step of a transaction. In sales, it is used more generally to mean achievement of the desired outcome, which may be an exchange of money or acquiring a signature. Salespeople are often taught to think of ...
Key takeaways. Selling your home through a short sale can help you avoid foreclosure, but it might make it difficult to get another mortgage. Short sales can damage your credit, and they can stay ...
The most common definition used by real estate appraisers is as follows [2] The most probable price that a specified interest in real property is likely to bring under all of the following conditions: Consummation of a sale will occur within a severely limited future marketing period specified by the client.