how does a short sale work: How Do Short Sales Work? What's a Short Sale? How do I buy a short sale? - 05/09/11 02:08 AM
I get asked a lot, "What's a short sale?" "How do I buy a short sale?" and "How does a short sale work?"  Because I have navigated many sellers through the difficult and sometimes long short sale process, I'd like to help answer those questions here in my blog.
Simply, a short sale is when a home is being sold for a value less than what the seller owes.  Consequently, the seller has to get their lender's final approval to sell short of what they owe.  I'm not going to get into what happens with the deficiency but I am going … (4 comments)