what is a short sale in real estate
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Understanding a Short Sale (Real Estate) A short sale in real estate involves selling a home for less than the balance remaining on the mortgage.Special Considerations. …Short Sale vs. …Short Sale Alternatives. …Details of a Short Sale. …Short Sale Strategies for Buyers and Investors. …It All in the Numbers. …The Bottom Line. …
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What is the short sale process?
The short sale process. A short sale process starts off like any other home sale: You contact a real estate agent (here how to find a real estate agent in your area), list your home …
What does it mean to short sell a house?
In real estate, it means selling a house for less than the outstanding mortgage. In investing, a short sale is a strategy in which an investor takes a short position in borrowed shares, expecting the market price to decline before maturity to realize a profit.
What percentage of home sales are short sales?
According to recent data from real estate information company RealtyTrac, about 5% of all single-family home and condo sales are short sales. Often homeowners are pushed into a short sale by personal financial troubles that make it impossible to pay their monthly mortgage to their lender.
Who pays for a short sale?
While a seller typically pays all real estate agent commissions and other closing costs, in a short sale the seller pays nothing; the lender or bank foots the bill. The short sale process