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Author Topic: Short Sell Question  (Read 4624 times)

Offline hinestro

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Short Sell Question
« on: June 07, 2006, 09:35:50 am »
Hello,

If you see a listing that states motivated seller..possibly short sale.  What exactly do you think that means?

Thanks

Offline yunghova

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Re:Short Sell Question
« Reply #1 on: June 07, 2006, 11:52:28 am »
a short sell is when u deal wiht someone in PRE forclouser, if there listed they may not be in that situation.

a motivated saler is a seller ou want if your an investor

Offline hinestro

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Re:Short Sell Question
« Reply #2 on: June 07, 2006, 12:42:52 pm »
Thanks,  I wasn't exactly sure what they meant by short sell.

Offline Misscee52

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Re: Short Sell Question
« Reply #3 on: October 20, 2013, 09:13:33 pm »
It is possible to do a wrap around morgage on a short sell property

Offline campbellsimon

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Re: Short Sell Question
« Reply #4 on: October 20, 2013, 10:25:11 pm »
A short sale is a pre-foreclosure property where the owner expects to sell the property for less than what is owed on the mortgage.

Usually these sellers are highly motivated because the bank will only allow a limited amount of time for the owner/borrower to sell the property before they schedule it for auction.

Unfortunately, short sales are extremely long transactions (average of 4 - 6 months to close) and have a high rate of transaction failure. That being said, you can often find below market deals.
Simon Campbell - Business Analyst

Offline kelle711

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Re: Short Sell Question
« Reply #5 on: November 18, 2013, 09:14:36 pm »
A "short sell" is what you get when you mean to type "short sale" buy you are typing on a device that auto-finishes your words. Or if English is not your first language. :biggrin

As has been mentioned, a short sale is where the bank agrees to take less than the mortgage payoff to release the lien on the property. Typically, short sale homes sell for a discount off Fair Market Value. However, in my market (DC Metro Area), I am seeing more banks approve short sales at Fair Market Value (sometimes more) or they will just foreclose on the house.
Goal set. Plan. Execute.
www.webuydcmetrohouses.com

 




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