How do short sales work?

What’s the Difference Between a Short & Traditional Sale?

1/06/2017 | Phoenix, AZ Today we’re answering a question from Allison, who asks, “Could you explain what happens if you purchase a home that’s a short sale?” A short sale is when the home seller is selling their home under the actual loan amount and the bank agrees to assume the loss. Banks, therefore, are far more involved in a short sale than a traditional one. Once the bank approves a home to be sold as a short sale, the process of purchasing it is usually pretty similar to a traditional home sale, but there are still a few key differences. To learn more about what happens when purchasing a home as a short sale, watch this short video. Watch on your Mobile Device!

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You may also call me at (602) 413-8195 for a FREE home buying or selling consultation to answer any of your real estate questions.

Tom Ross Nova Home Loans (602) 791-5961 tom.ross@novahomeloans.com Sincerely, Monique Walker RE/MAX Excalibur Phoenix, AZ Mobile: (602) 413-8195  Monique@MoniqueSells.com

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Monique Walker 8510 E Shea Blvd #100 Scottsdale, Arizona 85260 US