What is a Short Sale?

[McBrown]

In a short sale, the lender undertakes to condone a loan balance due to certain economic or financial constraints faced by the mortgagor.

[McBrown]

A short sale is a property sale in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the lender undertakes to condone a loan balance due to certain economic or financial constraints faced by the mortgagor. This is usually done by Bankers and lenders to at least compensate themselves of undesirable financial losses they might otherwise face due to the debtor’s inability to pay up

[clover]

It means sale of securities or commodity futures not owned by the seller

[athena]

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrower.

[james_smart]

From WikiPedia:

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan.[1] It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrower.

Hope it helps

[legalguy]

A "short-sale" is placing your house or real property in the real estate market at a price less than comparables in the vicinity in which the real property is situated. Economic downturns are often accompanied by short-sales, as well as bankruptcies. Short-sales are often undertaken to preclude bankruptcy. Factors include such things as unemployment, down-sizing, health reasons, etc.

[goairplanes]

Not surprisingly a lot of short sales have been taking place in this economy. In fact Las Vegas has quite a few compared to other areas of the country.

[SomeBoy]

Is selling your house or real property for less price than the average.

[dlawyer]

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan.[1] It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrower.

[huumingh]

In a short sale, a seller facing potential foreclosure strikes a deal with their lender to accept less than they owe on the property, in exchange for avoiding foreclosure.