The 10 Biggest Myths About Short Sales (And How They Affect Both Buyers and Sellers), Introduction Part I

‘Short Sale’ is one of the most misunderstood terms in the real estate industry. Whether you are a buyer looking for a bargain, or a seller looking to get out from under a troubling loan situation, it pays to understand what the term ‘short sale’ represents and the things you need to know before making crucial decisions.

A Growing Trend

With the recent growth of the sub-prime mortgage trend and the subsequent fallout from so many questionable loans, more and more listings in today’s market are categorized as ‘short sales’. This is one of the most misunderstood terms in the real estate industry. As a real estate professional working with both sellers and buyers, I come across short sale situations every day. I’ve found that people who know what they’re doing are able to avoid common pitfalls and make good financial decisions for their futures, whether they are buyers looking to find a good deal on a home, or sellers looking to get out from under an upside-down loan.

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