Common use of Short Sale Clause in Contracts

Short Sale. A Short Sale is defined as 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. In a Short Sale, the bank or mortgage lender agrees to discount a loan balance.

Short Sale. A Short Sale short sale is defined as a sale of real estate in which the proceeds from the sale fall short of the balance owed owned on a loan secured by the property sold. In a Short Sale, the bank or mortgage lender Xxxxxxxxxx agrees to discount release a loan lien on a property for less than the outstanding balance.

Short Sale. A Short Sale is defined as a sale of real estate property in which the net proceeds from the sale fall short of the balance owed on a loan real property is insufficient to pay in full the loans secured by the property soldreal property. In If a lender agrees to accept a Short Sale, it is agreeing to release lender’s lien on the bank real property. The terms of lender’s acceptance of the Short Sale may or mortgage lender agrees may not include the seller to discount a loan balanceagree to pay the shortage.