August 3rd, 2010 - By allanmadams
A short sale occurs when a lien holder for the property agrees to a reduction in the property lien or loan to progress a real estate sale. A potential buyer of this property has the opportunity to purchase the property at a reduced sum. A short sale of a property is an alternative to allowing a homeowners property to be foreclosed.
How Does a Short Sale Work?
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Understanding Exactly What Is A Short Sale?
(739 words, estimated 2:57 mins reading time)
Tags: Assets, Buying a Short Sale home, Consequences, Fair Market Value, Financial Documents, Financial Hardship, Financial Impact, Foreclosure, Gainesville Short Sales, Lien Holder, Mortgage Lender, No Doubt, Paperwork, Property Lien, Property Owner, Prospective Buyer, Prospective Buyers, Real Estate Sale, Real Estate Short Sale, Receipt, Selling a short sale home, Short Sale, Waste Of Money
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