short sale: The Short Sale - Can be a Long Sail...
- 04/14/07 06:38 PM
What is it and how can it work for you?In a Short Sale, you have to negotiate with the bank holding the mortgage, and get them to accept less than what the seller owes. We are seeing a lot of transactions like this in the current market. Your buyers and sellers may have questions regarding the advantages and dis-advantages of the Short Sale. One thing for sure, you might have to be in it for the long sail. In my humble opinion, I think it's better to do a Short Sale, than a foreclosure or bankruptcy. I feel that the advantages of the Short … (43 comments)
ActiveBrad is "The Internetarian and Web Concierge." Helping Industry Professionals with technology, blogging, social media, mobile and more. Brad spends the majority of his time helping agents, brokers and other real estate professionals experience greater success.
What is it and how can it work for you?In a Short Sale, you have to negotiate with the bank holding the mortgage, and get them to accept less than what the seller owes. We are seeing a lot of transactions like this in the current market. Your buyers and sellers may have questions regarding the advantages and dis-advantages of the Short Sale. One thing for sure, you might have to be in it for the long sail.
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