What is a short sale and why would I want one…

April 20, 2011 - PRLog -- Before the lender forecloses, or takes the house back they will often allow the homeowner to try to sell the home. If the owner cannot sell the house for the amount that they owe then a short sale may occur.

Real estates' value is established two ways; by what a buyer will pay and from an independent evaluation by an appraiser. The bank then decides if they are willing to sell the property for less than the original homeowner owes.

This type of  transaction takes time, sometimes months. If you are needing to move into a home on a specific date then this is not a good transaction for you, banks move at their own speed.

Mary Beth Harrison, www.dallastexasrealestateblog.com

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Whether you are buying or selling a home in Dallas, or you are relocating to the Dallas area, the The Harrison Group is here to help.