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A short sale means that the lender has agreed to sell the property for less than the outstanding mortgage balance against it. With a short sale, there's typically a certain process that both the bank and the seller go through. If you want to buy a short sale, try to write an offer that's as close to the amount owed as possible.
The short sale process. A short sale process starts off like any other home sale: You contact a real estate agent (here’s how to find a real estate agent in your area), list your home ...
What Is a Short Sale: Your Guide to Buying or Selling a Short Sale. Are you considering buying a home or selling a home in a short sale? Read on to find out about how the short sale process works for sellers and buyers.
In a short sale, the process is initiated by the homeowner to get out of financial trouble. The owner must prove the extent of the financial distress through documents submitted...
A short sale — sometimes known as a preforeclosure sale — is when a mortgage lender agrees to allow a borrower to sell their home for less than what’s owed on the mortgage. The lender accepts...
A short sale is when a homeowner sells their home for a price that falls “short” of the outstanding loan amount owed to their mortgage lender. The lender uses the proceeds to cover the majority of the borrower’s mortgage balance when the house is sold.
This guide covers the basics of buying a short sale home, including details about how a short sale works for the seller, to help you decide if pursuing a short sale is worth the extra time and effort.