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Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process. This is the first in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:
Buying a Wellington Short Sale: What is a Short Sale?
A Wellington Short Sale is when the seller owes more than their home will sell for in today’s real estate market, so they ask their liendholder(s) to accept less than what they owe. Unlike a bank owned home (REO) a short sale seller still owns their property, so the Wellington short sale seller is the one who will accept, counter or decline offers, NOT the short sale lienholders.
Originally posted at http://wellingtonhometeam.com/buying-a-wellington-short-sale-what-is-a-short-sale/
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