What Is A Short Sale In Real Estate?
We’ve answered this before but we did want to update what a short sale is in Real Estate just to be clear. After all it’s been 4 years of short sales in Real Estate. The definition is still pretty much the same:
[box type=”info”] The short sale in real estate is where the lender/investor/bank lower’s their payoff (what is owed) to allow the sell of the home to a buyer at today’s (lower than what home was purchased for) market value. [/box]