What is a short sale?

adele

Knows the Ropes
Jun 9, 2012
48
18
8
Raleigh
#21
We got tangled up in a short sale in Apex two years ago for 7 months, and couldn't get it bought. What a circus! My husband says never again, and I agree.
avrila and adele, the anti-short sale buyers! :eek:
 

Good Wife

TREF Member
Jul 1, 2012
13
5
3
Cary
#24
thanks for all the encouragement!o_O LOL

that house had foundation issues. We arent worried about the short sales as much as the condition of the house. No foundation issues for us.
 

The Turk

TREF Member
Sep 7, 2012
15
14
3
#25
thanks for all the encouragement!o_O LOL

that house had foundation issues. We arent worried about the short sales as much as the condition of the house. No foundation issues for us.
Good for you. My brother bought a short sale in Cary, and it was OK, but they kissed a lot of frogs before they found that one.
He says he probably wouldn't go through the short sale hassle again.
 

Caren Kerr

TREF Member
Nov 8, 2013
1
1
3
California
#27
In a short sale , the loaner of a property/home allows the property to be sold for less than the amount due on the mortgage loan. It’s helpful to seller to avoid the credit report damage associated with a foreclosure.
 

LauraPena

TREF Member
Nov 7, 2013
3
6
3
Scottsdale AZ
#28
The home is listed as a short sale when the home being offered for sale is offered for sale at a listed price which is in fact less than the amount the owner/seller of the home owes on the loan attached to the home. A licensed Real Estate broker can in most situations sell your home as a short sale if your individual circumstances meet the criteria necessary.
How the Short Sale Works
 

Trooper

Knows the Ropes
Jun 8, 2012
18
8
3
Cary, North Carolina
#29
We made an offer on a short sale house.

it was a little ridiculous. No communication. No nothing.
After sitting in limbo for four months, we found another home and cancelled the short sale contract.
And it worked out for the best. We think we got a very fair deal on a better home.