SHORT SALE LISTINGS .

The Seller is the titled Owner. Buyer buys the property FREE of any liens. Almost always these transactions require buyer to buy As-Is with right to inspect. Because the sale is subject to the Sellers bank approval, the Sellers require the buyer to submit with offer proof of buyer ability to purchase property, mortgage contingencies are allowed. Short Sales, like Bank Owned Foreclosures can represent excellent value however many private Sellers can also compete with Short Sale pricing.

A short sale is when a property is sold to a new buyer for less than what is owed to the bank by the Seller. The buyer gets FREE and clear title, no liens. Often the Seller's debt is settled as paid in full at closing. Sometimes a bank will execute a promissory note for some of the mortgage not paid back at closing. Either way the buyer can get a real bargain.

Short Sales can take 2-6 months to close, so buyers need to be patient.