What is a Short Sale
A Short Sale is a process by which a borrower/homeowner sells their property with the approval of their lienholder(s) for an amount that is less than the amount due to pay the lienholder(s) in full at closing. The homeowner, lists their property for sale with a real estate agent and goes through the process of selling the property, garnering an offer from a buyer, and providing that offer to the bank for review. Once the listing agent has procured an offer to the seller and the seller accepts the offer with the buyer, it is then submitted to the lienholder(s) along with the lender specified Short Sale Packet for their review. Depending on the lienholders timeframe, it could take … [Read More...]
About Albert
Albert Clark has been a real estate broker for nearly 8 years. He has been completing short sales for the past 4 years in the Seattle Metropolitan Area. His background prior to selling real estate was as a highly successful mortgage broker. As the short sale phenomenon took off with the decline in real estate values, he found that his experience as a mortgage broker was invaluable in working … [Read More About Albert...]
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