FOXmls.com: Short Sale

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Foreclosure Alternative: The Short Sale

Published: July 8, 2010

A short sale is far from hassle-free, but it´s a better alternative than foreclosure. And now you´ve got a little help from your friends in D.C. Here are the facts about short sales and how to get started.

Short sales: Playing by the new rules

WASHINGTON – Dec. 8, 2009 – The U.S. Treasury hopes to speed transactions under its new short sale rules, but details count, and Realtors should understand the process if they hope to avoid delays. While the new rules become effective no later than April 5, 2010, lenders have been encouraged to make them official as soon as possible.

Getting help on short sales

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When a property is listed for sale with a real estate agent ("Listing Agent"), the Listing Agent historically offers a 3.0% commission to the real estate agent ("Buyer's Agent") who procures the buyer.

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AGENT

3% TO
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AGENT

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you, the Buyer.

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HOME BUYER

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Foreclosure Alternative: The Short Sale

Foreclosure Alternative: The Short Sale

Short sales: Playing by the new rules

NAR Presidents Podcast: Short sales Tips: Oct 6

Getting help on short sales