A Quick Guide to Short Sales

What's a Short Sale?

Believe me, the name is misleading. A short sale is when the bank holding the note agrees to sell the property "short" of what is owed by the owner. It does not mean the closing will take place quickly. Quite the opposite actually. Some of these transactions take months to close. The reason for this is because there are many people in the approval process that have to agree to take losses on their investment. Are you a candidate for a short sale? Follow this link for a checklist to see if you're a short sale candidate.

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