Things to Know About Short Sales:
There is nothing short about a short sale. A short sale is when a seller must sell their home but they cannot sell it for what they owe on the mortgage so their lender agrees to take a lesser amount. The lender can take 6 months or more to give an answer.
If interested in a short sale we would write up an offer and submit it to the listing agent. They would then have the seller sign the offer and then submit it to the mortgage holder for their approval.
Short sales are as-is sales.
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