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26 Αυγ 2024 · In real estate, a short sale is an asking price for a home that is less than the amount that is due on its existing mortgage.
As used in these rules, short sales are defined as a transaction where title transfers; where the sale price is insufficient to pay the total of all liens and costs of sale; and where the seller does not bring sufficient liquid assets to the closing to cure all deficiencies.
Learn about the short sale process, common strategies used by buyers and sellers, and the differences between short sales and foreclosures in real estate.
A short sale in real estate refers to selling a mortgaged property at a price lower than the actual mortgaged value. In other words, the property's value did not rise as expected, and the borrower failed to make payments for the mortgage at the pre-decided intervals.
A short sale is defined as a type of real estate sale where money received from selling the property will be insufficient – i.e., fall short – to completely pay off the mortgage lender and any other lienholders on the property.
15 Ιουν 2021 · 40 Common Real Estate Abbreviations and Acronyms. Written by MasterClass. Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
16 Οκτ 2022 · What is a short sale? Simply put, you're selling your home for less than you owe on your mortgage. Here's what home sellers and buyers need to know.
