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What Is A Short Sale In Real Estate

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:

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.

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