Definition: A short sale typically has two meanings.In real estate, it means selling a house for less than the outstanding mortgage. In investing, a short sale is a strategy in which an investor takes a short position in borrowed shares, expecting the market price to decline before maturity to realize a profit.
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Short sales have a reputation for being, well, kind of a pain in the keister. It’s not uncommon to run across horror stories of the short sale process and timeline stretching out over seven months or more. With that kind of timeline, many buyers shy away from short sales, in spite of the great.
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What is a short sale? A short sale is the sale of a home for less than the homeowner owes on the mortgage. A short sale typically occurs when the homeowner has fallen behind on the mortgage payments due to financial hardship. For the bank or other lender that owns the mortgage, a short sale is preferable to letting a home go into foreclosure.
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In real estate a short sale is a situation where a home owner is selling a home for less money than what is still owed on the mortgage. Often such sales need approval from the bank before than can.
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A short sale is a home that is available at a purchase price that is less than the amount owed by its current owner.
Opportunity costs can impact various – and critical – aspects of your life, including money, career, home and family. That.
Buyers pursue short sales to get a good deal, and they firmly believe buying a short sale will present that opportunity. So when you see a price listed for a home .
The short sale will stay on your credit report for seven years, but you can finance a new home purchase within one to four years of a short sale depending on credit score, loan type and down payment. Again, a foreclosure is even more severe.
Short Sale Negotiation. Negotiation through the loss mitigation department will be the key factor in getting your new home at a deep discount. If opportunities emerge in which lenders can sell distressed properties without registering big losses, they will do it.
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