Generally, a short sale allows a home owner to work with their mortgage company to settle for less than what they owe. When their mortgage company is willing to work with the owner, they will sell the house for less than its current value ('short' of its market price).
Remember, when there are multiple offers, you could be in a spot where you may have to bid higher that what you originally started off with. Short sales used to take a very long time to close a few years back, so be patient with the process.
REALM Real Estate Professionals
Good evening Mr AragÃ³n, Property as You see with Previous is still on the market as Short Sale...I am very familiar with Durham Park as I have represented buyers and sellers in the same subdivision and my parents live on Tartan Walk close to the community park..I will be available tomorrow the 24th and Christmas Day if you would like to see it with no obligation to buy...have u applied for a loan already or will it be cash purchase? Thanks and feel free to contact me anytime...... more