Archive for the 'Short Sales' Category
What Is A Short Sale?
June 3rd, 2009 categories: Aventura, Market Trends, Real Estate News, Short Sales
Short Sales
I work with clients from all over the United States. In addition, many of my clients are from a foreign country. I have noticed that many people are confused about what exactly is a “Short Sale.”
A Short Sale is a situation where the net proceeds from the sale of a property are less than what is owed to the bank or mortgage company. The Seller will receive no funds from the sale and all lien holders must agree to the transaction. The mortgage company’s goal is to get the highest amount they can in order to reduce their loss. The negotiation can take a good amount of time, and it is not uncommon for the process to take 60 – 90 days. It is very important that both the Buyer and Seller be aware of this. If a Buyer wants or needs to move quickly then they should not consider a Short Sale. “Short sales should be called Read the rest of this entry »
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