Buying a home is already a whirlwind, but when you see a listing tagged as a "short sale," you’re looking at a completely different animal. For savvy buyers, it’s a chance to snag a property below market value. For the unprepared, it can be a months-long test of patience that might end in a "no" from a bank you've never even met.
A occurs when a homeowner sells their property for less than the remaining balance on their mortgage. Because the bank (the lender) will be "shorted" on the money they are owed, they must explicitly approve the sale before it can close. The Step-by-Step Buying Process how do i buy a short sale
Is a Real Estate Short Sale Right for You? - Old Republic Title Buying a home is already a whirlwind, but
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