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A short sale occurs when a property is sold for less than what is owed on the mortgage with the lender's approval. However, in this current real estate market, some banks/lenders are not exercising their foreclosure rights and instead have opted for either “loan ... The real property transaction falls under the jurisdiction of the Real Estate Commission. The Department of Finance and Real Estate Commission recognize that to ... Mar 21, 2025 ... A short sale happens when a homeowner sells their house or other piece of real estate for less than they owe on their mortgage to avoid foreclosure. Aug 31, 2022 ... Short sales are a legal sale of a property when a property owner sells the property for less than the amount owed on the mortgage associated ... Jan 11, 2017 ... A short sale is completed when your property is sold at a reduced value to help avoid having the house go into foreclosure. In a short sale, ... In a nutshell, a short sale is when a seller is attempting to sell their property where the proceeds from the sale will be less than what is owned to their ... Short sale properties are sold 'as is', which means the sellers won't do any improvements or act upon any issues found during a home inspection. 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 ... Oct 10, 2024 ... According to the North Carolina Bar Association, lenders can expect to receive about 84 percent of a property's fair market value in net ...