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Should I short sale my home in Hawaii?
We all know that short sale homes are in the news.  Every one is talking about it at work.  But really, honestly...what does that mean to me?  I don't see that many foreclosures or short sales in Hawaii compared to the national news which covers mainland states such as Florida, Nevada, California, Ohio and Arizona.  How do I find them?
The easiest way to remember what a "short sale" means is that when you sell or buy a property at a specific price, the seller is short of funds that he owes the lender(s) and or lien holders   Or, the sales price is not high enough to cover the balance owed to lenders, taxes, homeowners associations, conveyance fees, marketing fees or commissions and other costs associated with a sale or purchase.  If the listing agent or seller says that the property is a short sale, then what they mean is that even if you brought in a full price offer at the listed price, the seller is still short of funds to repay all lien holders and other selling costs at close of escrow.
A short sale is often dreaded by agents or buyers because a "short sale" transaction typically requires lender or lienholder approval if the ... more

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