What Is A Short Sale
A short sale is a real estate transaction where the proceeds of the sale are less than the amount the seller needs to pay the mortgage debt and the costs of selling. For this deal to close, all interested parties who are owed money must agree to take less or possibly no money at all. For this reason short sales can be difficult and slow moving transactions. For sellers who are having difficulty paying their mortgage a short sale is a viable option and in the long run less damaging to the sellers credit than a foreclosure.
How Can A Short Sale Benefit You?
For more information on how a short sale might be beneficial to you please contact one our qualified professionals at Berkshire Hathaway HomeServices Nutshell Realty.