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Property Q&A in Shawnee : Real Estate Advice

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Activity 21
Wed Jan 7, 2009
Cindy Johnson answered:
You may also be interested to know this transaction was subject to being a short sale, which means the seller probably owed more than they would net from the sale. In a short sale, the seller negotiates with the lender to accept less than is owed on the outstanding mortgage(s). The lender, in addition to the seller, must approve offers in this situation.

Regards,
Cindy Johnson
Reece & Nichols Realtors
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Property Q&A in Shawnee Zip Codes

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