What does the term short sale mean in real estate?

Answer A short sale in real estate is when the seller sells the home for less than the balance owed on the mortgage debt. The lender must agree to the short sale in order for the deal to close.Source:Home... Read More »

Top Q&A For: What does the term short sale mean in real estate

What is a short sale in the real-estate market?

A short sale is a situation where a lender accepts a discount on the mortgage for a property. A potential buyer offers less than the mortgage for full payment, and the lender accepts or rejects it.... Read More »

Real Estate Short Sale Training?

Short sales offer sellers an alternative to foreclosure by agreeing with the bank to sell the house "short" of what they owe. Since realtor participation in a short sale is mandatory in the eyes of... Read More »

What happens to a judgement balance in a real estate short sale in New York state. If there is no equity in the sale will the judgement be released?

In any state, Judgements are usually filed with a court. In order for the Judgement to be released, someone -- preferably the party that filed the Judgement -- must be satisfied before the Judgemen... Read More »

How do banks settle short sale real estate?

When a bank agrees to a short sale, it is with a home owner who can no longer afford to make his mortgage payments. In these situations, the bank will settle "short" with the borrower on what he cu... Read More »