Why is an appraisal important in a short sale?

Real estate licensees are involved in short sales, where the sales price agreed upon is less than that owed to lenders by the seller. A short sale is a situation where a homeowner is unable to continue making their mortgage payment and must sell their property when the balance of the mortgage ... The Licensee informs the seller that the seller must either personally negotiate with the lender or hire a Mortgage Assistance Relief Service Provider or a ... May 8, 2024 ... A short sale involves selling for less than your mortgage balance and is usually better than foreclosure. Find out if a short sale is right ... A short sale offers a way for a seller and a mortgage lender to avoid foreclosing on a home. Essentially, the lender agrees to accept less than the full ... 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 ... Jul 23, 2021 ... A short sale in commercial real estate occurs when a borrower sells their property “at a price below the amount outstanding on an existing ... Feb 27, 2011 ... Short sales are very time-consuming. They require a lot of Paperwork, a lot of phone calls, a lot of negotiating, and a lot of knowledge. Nov 6, 2023 ... A short sale home is a property that's sold for an amount lower than the remaining mortgage debt. The sale is named “short” because the lender ... These forms were created to help, not hinder, the short sale process. The forms are available in the Columbus REALTORS® Member Service Center and via Online ...