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What is a Short Sale?

Categories: Definitions
Published on April 13th, 2011

A short-sale is a home sale transaction in which the seller owes more to the bank (or banks) and is negotiating with the bank(s) to take less than the amount owed on the mortgage.

This takes longer than a regular sale.  Almost all banks require an offer before they will negotiate.

Published by Mechelle Gooch // Leave A Comment

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