Real estate blog entries tagged with what is a short sale by Chris Ann Cleland, Associate Broker, Northern VA (Long & Foster REALTORS®, Gainesville, VA)

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Home : Blogs : Chris Ann Cleland, Associate Broker, Northern VA : Northern Virginia Real Estate News & Opinion : Tag "what is a short sale"

what is a short sale: What in the World is a Short Sale? - 05/17/09 11:59 AM

A buyer entering the market these days is encountering a type of sale that so many before them never even knew existed. It's called a Short Sale.
A short sale occurs when a sellers owes more on the mortgage payoff, than they will get for the sale of their home. The mortgage holder(s) must have time to review the purchase contract on the property and decide if they will accept the short payoff. Sometimes the owners are facing foreclosure after missing mortgage payments. Perhaps the owners are current on their mortgage, but are being relocated out of state, or out of … (11 comments)

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Chris Ann Cleland, Associate Broker, Northern VA

Bristow, VA

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Long & Foster REALTORS®, Gainesville, VA

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