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A short sale of real estate means that the property is sold for less than the balance due on the mortgage. In a short sale the owner has negotiated with the bank and the bank has agreed to discount the amount due on the mortgage by accepting the proceeds from the sale as full payment of the mortgage. In certain circumstances, the owner may receive a 1099 on the amount of the loan that was forgiven. That amount may be counted as income by the IRS if the property was not the primary residence.
What else can I help you with?
How are banks involved in short selling?
Short selling is a process by which property with a lein against it can be sold by the owner to recoup some, but not all, of the balance of the lein to the creditor. In this case, the banks involvement is usually that of the creditor who has placed a lein on the property.
What is selling short against the box?
Selling short against the box means you are selling short a stock that you own, as opposed to a naked short in which you are selling short a stock that you do not own.
Are you considering selling your rental property?
Yes, are you thinking about selling your rental property?
Can a real estate agent who is selling a property be the owner of the property?
Yes in many cases they are the owner of the property which they are selling.
What is a short sale in real estate?
A short sale is a sale in real estate, in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens' full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.
What is the difference between short selling and naked short selling?
Short selling or "shorting" is the practice of selling a financial instrument that the seller borrows first (does not own), and then purchases it later to "cover the short". Short-sellers attempt to profit from an expected decline in the price of a security, such as a stock or a bond.Naked short selling or "naked shorting" is the practice of selling a stock short, without first borrowing the shares or ensuring that the shares can be borrowed as is done in a conventional short sale.
What are the requirements for selling property in Australia?
Legal Property Documents and Property Valuation are general requirements for selling property in Australia. These two things are very important for the buyer who want to buy any house.
Can you do a contingency contract on a short sale?
No you can not purchase a short sale property contingent on selling your home. A lender would never agree to such a clause. In most short sales the lender will ask for the buyer to close quickly (within 30-45 days).
Will there be a breach of copyright when selling photos printed with proverb or quote?
You would need to be the rightsholder for the image (or license it), and the words would need to be reasonably short and property attributed.
What is real property selling price?
Real property prices will vary depending on many factors such as location, size, and condition of the property. The selling price could be thousands to millions of dollars.
When was The Science of Selling Yourself Short created?
The Science of Selling Yourself Short was created on 2003-12-02.
What is the process of selling stock that investor does not own?
Selling a naked short
