Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What is a short sale?
My husband and I are looking at a house for sale and we're very interested. We were told it was subject to a "short sale". What exactly does this mean and does it benefit us in any way?
2 Answers
- 1 decade agoFavorite Answer
The home is facing a foreclosure and the bank wants to get it sold rather then do a complete foreclosure. You can probably get it below market value and maybe even for less than they owe for it. You will be required to provide prof of funds or a pr-qualification letter and the offer must be approved by the bank. There will be more paperwork for the title company so plan on a few extra days then normal for them to prepare the paperwork for the closing.
Source(s): http://www.darinalvarez.com/ - 1 decade ago
I think its a foreclosed home, and thus it means you could buy the house at a discount