Saturday, March 30, 2019 / by Connie Tracy
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 ...