Buyers can get so tired of waiting for short sale approval that they might threaten to cancel if they don’t get an answer within a specified time period, but that’s self-defeating. It won’t speed up the short sale process. A short sale might not be the best option for buyers with little patience.
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Short sales are now a hefty part of the real estate market. Short sales are the process of selling a home for less than the stated mortgage balance. The process unfortunately has allowed a tremendous amount of fraud to occur and with more purchases going through the short sale route, this is simply another concern potential buyers must be aware of.
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A short sale is a home that is available at a purchase price that is less than the amount owed by its current owner. The transaction benefits the bank by allowing it to avoid repossessing the home.
Catch Up On Episodes consult program guide. main Videos Photos. Short-Sale Home Profit 03:24. short-sale home Profit 03:24. On Flip or Flop, Tarek and Christina buy a short-sale home hoping to score a profit fast. Another house was recently sold and this has helped the comp, but will it be.
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