{"id":15819,"date":"2009-02-22T06:02:56","date_gmt":"2009-02-22T06:02:56","guid":{"rendered":"http:\/\/forestridgevoice.com\/2009\/02\/22\/why-a-short-sale-may-not-be-the-best-deal\/"},"modified":"2015-04-08T17:25:33","modified_gmt":"2015-04-08T17:25:33","slug":"why-a-short-sale-may-not-be-the-best-deal","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/","title":{"rendered":"WHY A SHORT SALE MAY NOT BE THE BEST DEAL"},"content":{"rendered":"

\"house_money\"What is a short sale anyway?\u00a0 Simply put, a short sale occurs when the balance of the mortgages(s) is more than the purchase price of a home and the bank(s) holding the mortgages(s) agree to take less than the balance of the debt.\u00a0 Sometimes, back taxes, HOA payments, Condo Fees, and other liens are also part of the short sale.\u00a0 These liens are generally paid in full at the time of closing.\u00a0 Sometimes buyers of short sale homes come to the closing table with additional funds to pay for these liens, as they are not “forgiven” and the banks are not responsible for them.<\/p>\n

Is a short sale a good deal?\u00a0 That depends.\u00a0 Buying a short sale is not\u00a0for those who have great expectations or need to close on a home within a particular time frame.\u00a0 Multiple offers may be submitted to the bank and there is really no way of knowing where your offer stands unless the bank responds to your offer.<\/p>\n

Once the bank accepts an offer it goes to the actual lender who must also accept it.\u00a0 If an inspection is part of the contract the bank has no requirement to make repairs or reduce the purchase price.\u00a0 The bank may also ask the seller to sign a note for the entire balance owed or a portion of it.\u00a0 If the seller declines the deal may be off.\u00a0 Sometimes this happens at the closing table.<\/p>\n

If you are willing to take a chance and can patiently wait, up to a year\u00a0\u00a0in some cases , you are the right type of person to buy a short sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

What is a short sale anyway?\u00a0 Simply put, a short sale occurs when the balance of the mortgages(s) is more than the purchase price of a home and the bank(s) holding the mortgages(s) agree to take less than the balance of the debt.\u00a0 Sometimes, back taxes, HOA payments, Condo Fees, and other liens are also<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":5759,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[12161],"tags":[],"yoast_head":"\nWHY A SHORT SALE MAY NOT BE THE BEST DEAL - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WHY A SHORT SALE MAY NOT BE THE BEST DEAL - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"What is a short sale anyway?\u00a0 Simply put, a short sale occurs when the balance of the mortgages(s) is more than the purchase price of a home and the bank(s) holding the mortgages(s) agree to take less than the balance of the debt.\u00a0 Sometimes, back taxes, HOA payments, Condo Fees, and other liens are alsoRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2009-02-22T06:02:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-04-08T17:25:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"pattireid\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"pattireid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\"},\"author\":{\"name\":\"pattireid\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/3884199c9616c95232f0602dd52df5eb\"},\"headline\":\"WHY A SHORT SALE MAY NOT BE THE BEST DEAL\",\"datePublished\":\"2009-02-22T06:02:56+00:00\",\"dateModified\":\"2015-04-08T17:25:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\"},\"wordCount\":283,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"Foreclosures & Short Sales\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\",\"name\":\"WHY A SHORT SALE MAY NOT BE THE BEST DEAL - BHHS EWM Realty\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#website\"},\"datePublished\":\"2009-02-22T06:02:56+00:00\",\"dateModified\":\"2015-04-08T17:25:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ewmrealestate.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WHY A SHORT SALE MAY NOT BE THE BEST DEAL\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#website\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/\",\"name\":\"BHHS EWM Realty\",\"description\":\"Blog\",\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ewmrealestate.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\",\"name\":\"BHHS EWM Realty\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png\",\"contentUrl\":\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png\",\"width\":1804,\"height\":345,\"caption\":\"BHHS EWM Realty\"},\"image\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/instagram.com\/ewmrealty\/\",\"https:\/\/www.facebook.com\/EWMRealtyInternational\",\"https:\/\/twitter.com\/ewmrealty\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/3884199c9616c95232f0602dd52df5eb\",\"name\":\"pattireid\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1e91073f9216e018b4c1275eb65c283d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1e91073f9216e018b4c1275eb65c283d?s=96&d=mm&r=g\",\"caption\":\"pattireid\"},\"url\":\"https:\/\/ewmrealestate.com\/blog\/author\/pattireid\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"WHY A SHORT SALE MAY NOT BE THE BEST DEAL - BHHS EWM Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/","og_locale":"en_US","og_type":"article","og_title":"WHY A SHORT SALE MAY NOT BE THE BEST DEAL - BHHS EWM Realty","og_description":"What is a short sale anyway?\u00a0 Simply put, a short sale occurs when the balance of the mortgages(s) is more than the purchase price of a home and the bank(s) holding the mortgages(s) agree to take less than the balance of the debt.\u00a0 Sometimes, back taxes, HOA payments, Condo Fees, and other liens are alsoRead More","og_url":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/","og_site_name":"BHHS EWM Realty","article_publisher":"https:\/\/www.facebook.com\/EWMRealtyInternational","article_published_time":"2009-02-22T06:02:56+00:00","article_modified_time":"2015-04-08T17:25:33+00:00","og_image":[{"width":376,"height":376,"url":"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg","type":"image\/jpeg"}],"author":"pattireid","twitter_misc":{"Written by":"pattireid","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/#article","isPartOf":{"@id":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/"},"author":{"name":"pattireid","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/3884199c9616c95232f0602dd52df5eb"},"headline":"WHY A SHORT SALE MAY NOT BE THE BEST DEAL","datePublished":"2009-02-22T06:02:56+00:00","dateModified":"2015-04-08T17:25:33+00:00","mainEntityOfPage":{"@id":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/"},"wordCount":283,"publisher":{"@id":"https:\/\/ewmrealestate.com\/blog\/#organization"},"articleSection":["Foreclosures & Short Sales"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/","url":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/","name":"WHY A SHORT SALE MAY NOT BE THE BEST DEAL - BHHS EWM Realty","isPartOf":{"@id":"https:\/\/ewmrealestate.com\/blog\/#website"},"datePublished":"2009-02-22T06:02:56+00:00","dateModified":"2015-04-08T17:25:33+00:00","breadcrumb":{"@id":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ewmrealestate.com\/blog\/why-a-short-sale-may-not-be-the-best-deal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ewmrealestate.com\/blog\/"},{"@type":"ListItem","position":2,"name":"WHY A SHORT SALE MAY NOT BE THE BEST DEAL"}]},{"@type":"WebSite","@id":"https:\/\/ewmrealestate.com\/blog\/#website","url":"https:\/\/ewmrealestate.com\/blog\/","name":"BHHS EWM Realty","description":"Blog","publisher":{"@id":"https:\/\/ewmrealestate.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ewmrealestate.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ewmrealestate.com\/blog\/#organization","name":"BHHS EWM Realty","url":"https:\/\/ewmrealestate.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png","contentUrl":"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png","width":1804,"height":345,"caption":"BHHS EWM Realty"},"image":{"@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/instagram.com\/ewmrealty\/","https:\/\/www.facebook.com\/EWMRealtyInternational","https:\/\/twitter.com\/ewmrealty"]},{"@type":"Person","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/3884199c9616c95232f0602dd52df5eb","name":"pattireid","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1e91073f9216e018b4c1275eb65c283d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1e91073f9216e018b4c1275eb65c283d?s=96&d=mm&r=g","caption":"pattireid"},"url":"https:\/\/ewmrealestate.com\/blog\/author\/pattireid\/"}]}},"_links":{"self":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts\/15819"}],"collection":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/users\/5759"}],"replies":[{"embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=15819"}],"version-history":[{"count":0,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts\/15819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/media\/130092"}],"wp:attachment":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=15819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=15819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=15819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}