WHAT ARE SHORT SALES?
A short sale is one where title has transferred; where the sales price was insufficient to pay the total of all liens and costs of sale; and…
Common Real Estate Questions | WHAT ARE SHORT SALES? | Homes For Sale News
WHAT ARE SHORT SALES?
A short sale is one where title has transferred; where the sales price was insufficient to pay the total of all liens and costs of sale; and where the seller did not bring sufficient liquid assets to the closing to cure all deficiencies.
In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an e…