1. What Is a Short Sale?

    2. Short Sale vs. Traditional Sale

    3. Short Sale vs. Foreclosure

    4. Why Do Short Sales Happen?

    5. Understanding Negative Equity

    6. Who Is Involved in a Short Sale?

    7. The Lender Is NOT the Seller

    8. The Seller's First Consultation

    9. Is a Short Sale the Seller's Only Option?

    10. Preparing to List a Short-Sale Property

    11. Establishing Market Value

    12. The Lender's Property Valuation

    13. Pricing a Short-Sale Listing

    14. Disclosing Short-Sale Status

    15. The Short-Sale Package

    16. The Hardship Letter

    17. Authorization to Communicate With the Lender

    18. Receiving an Offer

    19. Submitting the Offer for Short-Sale Approva

    20. Multiple Mortgages Change the Transaction

    21. Understanding Lien Priority

    22. When the Second Lienholder Says No

    23. Other Liens Can Create Problems

    24. Understanding the Lender's Net

    25. The Short-Sale Approval Letter

    26. What Is a Deficiency?

    27. Possible Tax Consequences

    28. Can the Seller Receive Money at Closing?

    29. Closing Deadline Problems

    30. Representing a Short-Sale Buyer

    31. Is a Short Sale a Bargain?

    32. The Buyer's Deposit

    33. Financing a Short-Sale Purchase

    34. The Buyer's Appraisal

    35. Home Inspections

    36. What Does “As Is” Mean?

    37. Lender Counteroffers

    38. Buyer Fatigue

    39. When the Buyer Wants Out

    40. Massachusetts Short-Sale Considerations

    41. Short Sale Does NOT Automatically Stop Foreclosure

    42. Short-Sale Fraud Red Flags

    43. Undisclosed Side Payments

    44. Arm's-Length Transactions

    45. Agent Risk Management

    46. Ethics and Professional Responsibilities

    47. Complete Short-Sale Transaction Timeline

    48. Final Massachusetts Case Study

    49. RE78R13 Final Review

SHORT SALES

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When the Mortgage Is More Than the Property Is Worth

Everything you need to know about "Short Sales"