What is a Short Sale

    Your question on what is a short sale: It is when the seller owes the bank more than the property is worth. The bank becomes a third party involved in negotiations and must also agree to the purchase  price due to the fact that they will be to taking less money then is owed on the mortgage to get the property sold. Banks are willing to do this to avoid  the costly court process and the time savings.  To obtain the legal documents to foreclosure on the property and evict the owners is a slow and expensive process for banks.

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