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Can someone explain what a short sale is?   

#short sale #real estate #housing


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Debbie Katz Free Spirit
@debkatz78 · Posted 02 Oct. 2021

I got a basic understanding of it but I want to know if this is the kind of property I should risk or just avoid. Most people online say to avoid it because it can be a hassle to actually buy a house on a short sale. 


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Godwin Oladele I write content
@Writelord · Updated 02 Oct. 2021

Debbie. I gotta say, if most people say it's a bad idea, probably best if you take their advice. 

You know what they say, "if it doesn't feel right, it probably isn't"


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Bomb . Carpe Diem...
@bomb · Posted 03 Oct. 2021

Well, a short sale is when the homeowner disposes his or her home at a price lower than the mortgage price because s/he is in distress. This is like a quick sale to dispose of the house quickly in order to sort other things. 

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Debbie Katz Free Spirit
@debkatz78 · Posted 05 Oct. 2021

That is the part that confuses me. It is called a "short sale" but everything I read says the process can take several months because you have to dispute not only the bank but in some cases, the buyer. I thought a short sale was what it implied with the words but that doesn't appear to be the case. 


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