|
so explain a short sale to me
| Posted By |
Message |
pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
|
so explain a short sale to me
Went to go see a house today that is obviously worth more than the asking price, it's a short sale and GORGEOUS...I love it...can we put in an offer lower than the asking price?? What goes into the process of a short sale.
Sorry if this has been asked millions of times before!
Message edited 5/4/2010 5:35:17 PM.
|
Posted 5/4/10 5:35 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: so explain a short sale to me
FM Beth!
|
| Posted 5/4/10 5:40 PM |
| |
|
pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
|
Re: so explain a short sale to me
Posted by Meaghan729
FM Beth!
good idea...forgot to do that
I just hate bothering her...she's probably inundated with things!!!
|
| Posted 5/4/10 5:49 PM |
| |
|
Prettypit03
LIF Infant
Member since 3/08 179 total posts
Name:
Jenn
|
Re: so explain a short sale to me
FM 
Hope it helps!
|
| Posted 5/4/10 6:19 PM |
| |
|
-Lisa-
---------------
Member since 5/05 6530 total posts
Name:
Lisa
|
Re: so explain a short sale to me
Basically its a way for the owner to get out of the mortgage without paying back the full amount owed. The bank agrees to take a lesser amount on the mortgage, rather than risk a potential foreclosure.
The bank will have to approve the offer and the buyer. Typically all offers are submitted together, and the bank picks the most favorable. So you should go in with your best offer.
Message edited 5/4/2010 9:15:09 PM.
|
| Posted 5/4/10 9:14 PM |
| |
|
Potentially Related Topics:
Currently 529338 users on the LIFamilies.com Chat
|
