What an Approved Short Sale Means
August 21, 2009 by admin
Filed under Short Sale
Agents these days are splashing the words approved short sale all over their short sale listings.
Getting a short sale approved is tricky business. You can be dealing with 2 lenders or one of the lenders might not agree to let the seller totally off the hook. The bank might not want to accept an offer because it’s not high enough or the seller might not qualify for the short sale. There are a dozen reasons, plus some, why a short sale may be denied.
However, after a short sale is approved, it doesn’t mean that another buyer can always automatically step right into place and pick up where the last buyer left off. So, an approved short sale notation in a listing might be misleading . . . read more about an Approved Short Sale.
