Whether they need to get their money quickly to invest elsewhere, need to relocate for a new job, or have some other motivation, a quick sale can help them achieve their goals. A quick sale is also safer for the seller, because once done, it's done. Mortgages are in danger of foreclosure for many reasons, including borrowers' financial difficulties. However, there is one step before foreclosure that can prevent it from happening.
Known as a quick sale, it is the sale of a property that is in the run-up to foreclosure on your delinquent mortgage. Foreclosure is the time between default on the mortgage and the sale of foreclosure and is really a grace period for borrowers. Quick sales of foreclosed homes are called quick sales. A short sale occurs when a homeowner with serious financial problems sells their home for less than what they owe on the mortgage.
The original mortgage lender receives all proceeds from the sale and forgives the difference or receives a judgment of deficiency, which requires the original borrower to pay what is left. A short sale is the sale of real estate for which the lender is willing to accept less than what is still owed on the mortgage. For the best chance of selling quickly, partner with an agent who has a history of selling homes like yours quickly. They knew they could get the best price for their home, but they were below the deadline to buy the house they wanted to buy, so they needed to sell it quickly.