What is a short sale in real estate?

Question

What is a short sale in real estate?

Answer 1

one that sell for less than full balance owed and the shorts are not cleared and good deed delivered at close by the seller

Answer 2

a short sale is when the lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor (borrower). You can find out all you need to know about short sales at www.deangraziosi.com

Answer 3

A short sale is where the lender agrees to accept less than the amount owed on a property (and consider it payment in full), allowing a seller who owes more than market value to sell the house.  

good luck!