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Heather Schelling

Short Sale | pricing Blog

Saturday, March 30, 2019   /   by Connie Tracy

Short Sale... Anything but Short- A Simple Explanation

Short sales are anything but short... They can take up to months and sometimes even up to a year. Even in the end, after waiting for the home to close, there is no guarantee that the home will ever complete the transaction. So what is a short sale? 

A short sale is when a bank agrees to sell the property for less than the amount owed on it. If an owner goes into foreclosure, and the bank agrees to a short sale, the property is listed with an agent and posted as a short sale. The bank looks over all the offers and accepts the best one or the one closest to the mortgage owed. If the bank accepts a short sale, the foreclosure is put to a stop.

Add Some Spring to your Home!

FSBO is Risky Business!

Short sales are a better choice for banks. Foreclosures are expensive. Banks, of course, do not like to lose money. But they'd rather cut their losses then go through a foreclosure due to the cost and time it takes to be approved. Short sales also benefit the seller  b ...

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Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201

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