Real Estate News Short Sale Your Home - What is a short sale
Short Sale Your Home - What is a short sale
Wednesday, 07 April 2010 07:21 | 
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In a short sale, the seller arranges with their mortgage lender to accept a price that's less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan. As a result, the seller doesn't have to go though a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property. www.shortsales.mypbchomes.com
Who pays the expenses (commissions and closing costs)?
Fees are generally paid by the lender out of the sale proceeds making our service free of charge to you. Lenders are willing to do this because if they have to foreclose, they still would have to pay a broker and closing costs to sell the property. www.shortsales.mypbchomes.com
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