Neal's Blog

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the

I had a conversation today with a past client that wants me to help her find a home this Spring and by the end of the call it was clear to me that there is no topic more important for buyers and sellers in todays market to thoroughly understand than what a short pay listing is compared to a foreclosure listing. First lets start with the basics. A short pay or short sale listing is one in which the seller will get no money. They owe more than the home is worth. They want to sell but in order to do so they have to ask their lender-or lenders-to take less than what is owed. As such, they have little concern in most cases at what price the property ultimately sells, because they see no proceeds either way. Enter the Real Estate agent, anxious to make a sale. They suggest to the seller, lets price this well below the others to guarantee you get an offer, which we will then submit to the lender(s), to see if they will approve you for a short sale. Seems innocent enough, but this is how the