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The only difference I can surmise is that if the offer goes below a certain amount the Seller will be short and require a short sale approval. Some sellers may be right at the even mark. Someone could offer more allowing the seller to complete the sale in a traditional manner, but the buyer has to be cautious not to bid more than the home is worth.
The only difference I can surmise is that if the offer goes below a certain amount the Seller will be short and require a short sale approval. Some sellers may be right at the even mark. Someone could offer more allowing the seller to complete the sale in a traditional manner, but the buyer has to be cautious not to bid more than the home is worth.
Yeah, we had a listing like this. At full price, it was a regular sale, but at less than full price it would be a short sale, as the seller couldn't afford to bring anything to closing, and full price was enough to cover their closing costs. So we put that right in the listing. It sold at full price as a regular sale.
In my neck of the woods, the difference is also that a short sale means that the lender has approved the short sale. Potential short sale means the house is not going to sell for what is owed on the mortgage but the lender approval process has just started or will be started soon. Of course, in that case, there is no guarantee that the lender will approve a short sale.
In my neck of the woods, the difference is also that a short sale means that the lender has approved the short sale. Potential short sale means the house is not going to sell for what is owed on the mortgage but the lender approval process has just started or will be started soon. Of course, in that case, there is no guarantee that the lender will approve a short sale.
Ask your questions to the agents involved.
I asked her and we decided against the potential short sale.
Thanks everyone !
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