Archives by Tag 'short sale'
Can I receive the first time home buyer tax credit if I buy a short sale?
Houses being sold as a short sale make up a significant portion of listing inventories across the country. Buyers want to know if they can still receive the first time home buyer tax credit if they buy a short sale. The answer is yes as long as the house is a detached or attached home, [...]
Make sure you use a real estate agent with short sale experience
If you are faced with selling your home at a price that is not sufficient to cover your mortgage you will need your lender to approve a payoff that is less than owed. This process is generally referred to as a short sale transaction. Short sales are becoming common around the country. Real estate [...]
What is a short sale?
Q: What does it mean when a home is listed for sale as a short sale? Many homes listed for sale are listed as being subject to a short sale. A short sale contingency requires the lender or lenders of the home’s seller to agree to accept a payoff lower than the seller/borrower owes [...]
Buying a short sale home
Q: What are the pros and cons of buying a short sale home? A short sale typically describes a home being sold with a contingency of the lender or lenders of the seller agreeing to accept less money from the seller than is owned. A positive of buying a short sale home is that [...]