A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property.
Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure.
Search for Short Sales in Denver Metro Area
Facebook
Twitter
Youtube