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

The Definition of a Compromise Sale

If the seller has other assets or is gainfully employed, the lender might choose to do a compromise sale. In a compromise sale, the lender will place a short demand into escrow that allows the sale to close, but it will require a payoff from the seller for the balance still owed. This note may be secured by another real property or it may be a personal note.

Know How to Make the Right Decisions

Though it is important to know about the compromise sale option, my focus in this special report is on short sales. My goal is to provide you with the education and insights you need before going down the complex path of the short sale. Whether you are a buyer looking to purchase short sale property, or a seller looking for short sale approval on your property worth less than you owe, my upcoming report will outline the pros and cons of short sales, on both ends of the spectrum. In the following weeks to come we will uncover 10 of today’s most common myths about short sales, including the accurate information you need to make educated real estate decisions.

You will find the first five myths are directed to sellers, and the last five are directed toward buyers, but I highly recommend studying all of them in order to have a full understanding of how short sales can affect every facet of your real estate experience.

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