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What is a Short Sale?

A short sale is a sale of real estate to a third party for an amount not capable of paying off the mortgages attached to the property. In other words, a short sale is the sale of a property that is underwater and has no equity. This type of sale requires the lender(s) approval of the sale and all of the terms of the sale including the purchase price and the Buyer. Often short sales are used by homeowners who are behind on their mortgage payments as a way to avoid foreclosure and bankruptcy. Short sales can be used for homestead properties, investment and rental properties, and even commercial properties subject to lender/bank approval.

Contact Tiller & Rivera Law P.A. today to discuss your short sale options with West Palm Beach short sale lawyer and real estate attorney.
Main Office: West Palm Beach Satellite Offices: Stuart Palm Beach Gardens Fort Lauderdale


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