Many of my potential clients, are confused as to what a short sale is and surprised( just like I am) that there have been so many 2011 Buffalo Grove short sales .
What is a short sale?
A real estate short sale is a form of agreement between the seller of a home in the beginning stages of foreclosure and their lender, allowing the home to be sold for less than the existing loan balance outstanding. The bank actually accepts less than the loan amount in order to avoid a foreclosure proceeding.
How many Buffalo Grove short sales(detached homes) closed in the last 12 months? [Read more…]