I know what a short sale is, I think...
One of the most confusing terms in real estate is a "short sale", what is this? When I asked several people if they knew what a short sale was, I received a lot of different answers. I will help break down what a short sale is in the simplest terms. Some short sales are more in depth and can take less or more time. This is more of a short sale 101!
- Short sales are not short on time, on average they can take between 3 months to over a year.
- Short sale is a home being sold short of what is owed on the mortgage, the lender is taking a loss.
- When negotiating the contract the bank has the final say on the sales price, not the seller.
- Buying/selling a short sale can be an easy process with an agent that has experience dealing with them like our agents at Stateline Realty.
- Using an experienced short sale attorney to assist in the process simplifies and expedites the process. Stateline Realty has relationships with experienced short sale attorneys.
- Short Sales are an alternative to foreclosure in some situations
We can explain the in more detail about the benefits and down falls to short sales. Here at Stateline Realty was have mastered the short sale buying and selling process for our clients. If you want to speak with an agent about short selling your home call us today 800-803-3933. If you are looking to buy a short sale please call us, we have helped many buyers with short sale buying process.