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Question by MorganArtistry.com: REAL ESTATE: short sale?
So we?re in the market to buy (really soon) and looking at all the listings, I?m seeing ?short sale? on half the houses I want. When it says ?subject to short sale approval? what do they mean? Are we not going to be going through major approval with loans/banks/etc? What is the difference. Is it worth going through as a buyer? Thanks in advance!
Best answer:
Answer by AM-NM centaur
Means the seller needs approval from their mortgage lender in order to sell at your negotiated price (a price that does not cover the mortgage balance). You have an empty offer plain and simple.
What do you think? Answer below!
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