What Does Short Sale Mean?

Explanation of a short sale!

Local Motion

As the real estate market remains volatile, one of the best options for many new home buyers is purchasing a short sale home. But, what does “short sale”  mean? A short sale is when lenders have the opportunity to sell a property before the bank forecloses on the home rather than after. While buying short sales creates the opportunity for real estate investors to pay well-below-average housing prices for properties within ideal locations, there are still drawbacks.

If you’re interested in buying short sales, here are a few things you need to be aware of:

Why Banks Short Sale Pre-Foreclosure Homes

The last thing a bank wants to do is own a property secured by the bank’s loans. When a property owner is in default and owes more than what the home is currently worth, the bank will work with the seller to offer the property for less than they…

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About batonrougehousing

Housing Reporter for the Greater Baton Rouge Housing Market.
This entry was posted in Baton Rouge Housing News. Bookmark the permalink.

1 Response to What Does Short Sale Mean?

  1. Pingback: Short Sales in layman’s terms « homescachevalley

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