Understanding Short Sales in Real Estate

Navigate the Complex World of Short Sales with Expert Insights and Real-Time Analysis

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What is a Short Sale?

A short sale occurs when a homeowner sells their property for less than the amount owed on their mortgage(s), with the lender's approval. This complex transaction requires careful navigation of various financial and legal considerations.

Key Components:

  • Lender approval required
  • Property sold below mortgage balance
  • Alternative to foreclosure
  • Potential tax implications

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Frequently Asked Questions