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The Art Of The Strategic Short Sale
The Art Of The Strategic Short Sale

A client of mine called me this week to ask me the definition of a short sale. I happen to run across this explanation of a Strategic Short Sale by a great broker from California, Daniel Dima Batsalkin, and thought it was a great primer!
If you've been following the real estate market over the last few years, you probably already know what a short sale is. Just in case you don't, it's essentially a situation where the proceeds from the sale of real estate are insufficient to cover the existing loans encumbering the property and pay all selling expenses.
A typical short sale also involves some sort of owner hardship situation. For example, the owner lost his job, had a medical issue, his ARM loan adjusted and his payment skyrocketed, etc.  You get the idea.
Starting around the middle of last year, I began seeing a new form of short sale ... the STRATEGIC SHORT SALE.
Just what is a strategic short sale, you ask?
A strategic short sale is a situation where the owner is able to continue making payments on the loan(s) and is often times current on the payments, but is upside-down on the property ... more

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