Home Sale

Quick Home Sale

Sep
19

Is a quick sale the same thing as a short sale?

Posted under Quick home sale

I saw a home listing with the words “quick sale” so I wasn’t sure if it’s an actual term that has the same meaning as a short sale. 

No. the listing is just implying that the price is low so the house will sell quickly. It is an inducement to attract a buyer. It may be a short sale, but it may also be just another house for sale. A short sale is the sale of a home for less than the loan owed on it. If the mortgage company agreed to the short sale, the seller would not be liable for the repayment of the mortgage after the house is sold. The mortgage company would receive all the proceeds and would consider the amount received as satisfying the full obligation.

  1. Serge M Said,

    No. the listing is just implying that the price is low so the house will sell quickly. It is an inducement to attract a buyer. It may be a short sale, but it may also be just another house for sale.

    A short sale is the sale of a home for less than the loan owed on it. If the mortgage company agreed to the short sale, the seller would not be liable for the repayment of the mortgage after the house is sold. The mortgage company would receive all the proceeds and would consider the amount received as satisfying the full obligation.
    References :

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