It has only been the last few years that we have had the term (status) contingent short sale as a description of the status of a property. What this means is the Owner (Seller) is trying to sell the home for less the they owe. The buyers has submitted an offer to purchase the home and the Seller has agreed to the terms. Now it all has to be submitted and approved by the mortgage lender of the Seller. The sellers lender is the one who is going to be short meaning they are going to accept less money to clear the title then what is owed to them. So that is where the term contingent short sale comes from, it is contingent upon the mortgage holders approval of the payment short of what they are owed.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น