There is a new buzz word being used in the real estate world nowadays. That word is short sale. A short sale is a sale price that has been set a the homeowner at a reduced price to move a home quickly without all of the normal parameters of a closing a real estate deal.
Short sales come in one of two forms and are typically encountered when a homeowner is behind in their mortgage and have been sent a notice from the bank that the home is being foreclosed on and that a date has been set for the public auction of the house.
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