Short sales are a dime a dozen on the Multiple Listing Service. In fact, if you are an avid home buyer or house hunter, you might already understand and know that when a listing says subject to bank approval or subject to lien holder approval i.e. some other entity has to approve the sale first before the sale can proceed to closing, you are more than likely looking at a short sale listing/real estate transaction. We are going to cover what a short sale is, what you should expect if you make an offer on short sale, pros and cons of buying a short sale, and typical answers to frequent questions from short sale buyers.
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