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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 ...
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.
A naked short sale occurs when a security is sold short without borrowing the security within a set time (for example, three days in the US.) This means that the buyer of such a short is buying the short-seller's promise to deliver a share, rather than buying the share itself. The short-seller's promise is known as a hypothecated share.
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
This year it's with no small sense of embarrassment that I had to unload a commercial property as a "short sale." I hasten to underscore that I'm by no means a big-time real estate investor ...