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Answers (2)
- Bryan Hill, "Bryan Hill"
- Contributions:94
Short sales are an agreement between the seller and the bank. Often the bank allows the seller to sell home at a lower price than what is owed on the mortgage.
The bank loses money and the seller loses credit BUT short sales are quicker, and less damaging for both parties compared to a foreclosure.
Bryan
The Casual Tycoon
The bank loses money and the seller loses credit BUT short sales are quicker, and less damaging for both parties compared to a foreclosure.
Bryan
The Casual Tycoon
- Vito Teti, "VitoTSellsTucson"
- Contributions:2733
Hi again.
Sorry about the Zillow discrepency.
We originally started out higher, then couldn't sell it, we went "Short Sale" and brought the price down to generate offers to stop the foreclosure process, which I did.
The lender countered and gave us their bottom number of a $158,000 net for them.
So I had to calculate what the minimum sales price we needed to get them their $158,000, henc the $174,000.
Sorry but my assistant obviously missed that, I'll change it immedietly!
A short saje is a pre-foreclosure situation.
Please allow me to apologize for the mistake.
Keep in touch.
Sorry about the Zillow discrepency.
We originally started out higher, then couldn't sell it, we went "Short Sale" and brought the price down to generate offers to stop the foreclosure process, which I did.
The lender countered and gave us their bottom number of a $158,000 net for them.
So I had to calculate what the minimum sales price we needed to get them their $158,000, henc the $174,000.
Sorry but my assistant obviously missed that, I'll change it immedietly!
A short saje is a pre-foreclosure situation.
Please allow me to apologize for the mistake.
Keep in touch.
Price check on isle 4..
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