SubscribeShort Sales
Posted: 11 May 2008
What is a Short Sale?
A short sale refers to a transaction when a buyer can purchase a home for less than the remaining loan amount. The advantage is the buyer can save a significant amount on the purchase price, as long as the buyer is willing to take part in a more complicated transaction. The transaction is more complicated because it requires both the lender and the home owner to agree to the purchase price, as opposed to a “normal” sale when the homeowner can make that decision on their own. This is because the lender will receive less money… Continue reading
