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What is a short sale?

Discussion in 'Affordable Housing' started by Good Wife, Sep 10, 2012.

  1. adele

    adele Knows the Ropes

    Jun 9, 2012
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    avrila and adele, the anti-short sale buyers! :eek:
     
    Mike Jaquish and Jammer like this.
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  2. Jammer

    Jammer TREF Member

    Jul 1, 2012
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    :cool:
    Can I join the "Anti-Short Sale Club?" LOL
     
    Mike Jaquish likes this.
  3. Mike Jaquish

    Mike Jaquish Owner, Realty Arts
    Staff Member

    Jun 6, 2012
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    Good one, Jammer. :D
    I think a lot of people will want to join, after riding the short sale roller coasters!
     
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  4. Good Wife

    Good Wife TREF Member

    Jul 1, 2012
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    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 likes this.
  5. The Turk

    The Turk TREF Member

    Sep 7, 2012
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    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.
     
    Mike Jaquish likes this.
  6. marcus93

    marcus93 TREF Member

    Oct 28, 2013
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    Useful post.
     
  7. Caren Kerr

    Caren Kerr TREF Member

    Nov 8, 2013
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    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.
     
    Trooper likes this.
  8. LauraPena

    LauraPena TREF Member

    Nov 7, 2013
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    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
     
  9. Trooper

    Trooper TREF Member

    Jun 8, 2012
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    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.
     
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  10. Alexis Cooper

    Alexis Cooper TREF Member

    Nov 22, 2014
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    What is the conversation topic?
    You all are diverted from conversation topic.
     
  11. Alexis Cooper

    Alexis Cooper TREF Member

    Nov 22, 2014
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    Hello All,
    Any one active here or not?
     

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