What is a short sale?

So what’s a short sale anyway? When a seller is in a “need to sell” situation due to some type of hardship and the house can’t be sold at a price that would cover the mortgage + closing costs, the lender may consider taking less than what is owed. Extra steps? You bet. Extra stress? For some. Takes longer to close? Sometimes. That’s where the team you have in place becomes super important. This is the 3rd short sale I’ve closed this year- my buyers (who I met through a past client) purchased this great home using a USDA loan and their awesome lending team had them closed in DAYS!! ON A SHORT SALE WITH USDA FINANCING. So at the end of the day, the buyers got a great deal on a fantastic home.