What Is A Real Estate Short Sale? Here Is The Answer

A real estate short sale is a form of agreement between the seller of a property and the bank that has a loan against the property. The bank in a transaction like this is usually called a mortgagee. The property that the homeowner wishes to sell is in the early stages of foreclosure and the mortgagee is allowing the home to be sold for less than what the homeowner owes them. Once the mortgagee agrees to take less than what is owed to them the homebuyer would proceed with the purchase of the property much the same as in any transaction although there will be more paperwork involved for the buyer and seller than in a conventional real estate transaction.

For more real estate information or advice call Steven today or visit: http://www.StevenGalindo.com

Steven Galindo
Realtor @ Keller Williams Realty, Pasadena
Mail@StevenGalindo.com
Toll Free: 1.866.211.8682

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