Short Sales
The short sale in real estate process of a house for sale is an alternative stage of a foreclosure when the owner can no longer afford the mortgage payments. During this time, there can be extra paperwork, time, and frustration involved.
The lender has to agree to allowing the house to sell for less than is owed on the mortgage. This process can be anything but what seems like a “short sale”. In fact, some short sale transactions can take up to a year, even 2 years for approval from the lending bank while others can take around 90 days.
If you end up finding a home that you really like that is a short sale, then plan on spending a little extra time waiting for the sale to take place as the bank decides what to do.
If you desire to sell your home as a short sale, then contact us for help.
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