What is a short sale in real estate?

Feb 16, 2023 ... A short sale is when a borrower must sell their home and the proceeds are less than the amount owed to pay off the mortgage balance. A short ... A short sale is when you sell a property for less than you owe (or need to pay off all liens). In order to do this your lender (or lienholder) needs to approve ... If I have a property value that was obtained when I evaluated the borrower for other workout options, can I use the same value for the ... A “short sale” is a term used to describe a home transaction in which the sale price of a property will not be enough to pay off the existing mortgage(s). Nov 25, 2013 ... A short sale, also known as a pre-foreclosure sale, is when a person sells his or her home for less than the balance remaining on the mortgage. Jan 10, 2023 ... In essence, a short sale is a loss mitigation strategy used to avoid foreclosure. Usually, it occurs when the owner of a mortgaged property ... Discover the newest listings for short sale in Washington with results updated every 15 minutes directly from the NWMLS. Court-ordered sale e. Sale in lieu of foreclosure f. Condemnation g. Short sale h. Bank REO (real estate owned) i. Auction sale j. Seller/buyer is a relocation ... A short sale can be a viable alternative to a foreclosure for debtors with nonrecourse debt and who qualify for certain exclusions. Be aware, however, that the ... Jul 18, 2022 ... A short sale happens when a homeowner sells real property for less than the full amount owed on the mortgage.