What does it mean when a house is a “short sale” ?


We want to buy a house and it is great in every way, but we were reading the description and it said that it was a short sale. What does it mean? And also, is it bad if a house is so close to the railroad it seems like it is in your backyard? ( literally probably 5 y or 10 yards away – very, very close) Will the house shake?

please answer!!!!
Thanks!

Related Topics:

  1. I am buying a house that is a short sale and we close in 45 days. Can I rent the house till the closing date? I close on my current house in a week and I would like to move into the “short sale” house right away and rent it. I don’t want to put my stuff in storage or rent another place. But our buyer’s agent tells us that the bank does not want...
  2. how long does it take to move into a house that is a short sale ? Me and my wife are looking to buy a house and we have found that most of them are listed as a short sale. I am curious as to the average time it takes to close on one of those type of houses....
  3. What will buying a house on a short sale mean? I am closing in 2 days…? I am closing on a house in 2 days and when I contacted my realtor today, aparently the seller is trying to get a short sale approved. My realtor has been working on this for the past couple of weeks, I’ve had no knowledge of this. The seller had signed...
  4. Bank has not responded to our offer for a short sale house.? We offered what was the asking price. We are the only bid on this home. It is a short sale, but we hoped giving the asking price would get us an answer. Its been a month since they received our offer. Is there anything we can do?...
  5. How long does it take to get an answer when putting in an offer on a house up for short sale? I heard that when buying a house that is up for short sale, you wait a long time to get an answer from the bank on your offer. How long do people typically wait to see if their offer is approved?...
  6. Can you buy a new house while in short sale with your fist? We cannot afford our partially remodeled home mortgage any longer because of the arm. Now we have been trying to get out of the house we are in now for years because it’s too small. We want to buy a single family home, ours is a townhouse, and start fresh....
  7. Can i put my house up for short sale after receiving a notice of trustee sale? Can i put my house up for short sale after receiving a notice of trustee sale? Is it still possible? How would one go about putting their property up for short sale? Is a foreclosure specialist needed to put a house up for short sale? And if my house gets...
  8. Should I continue to make payments on my house even though we’re about to sell it through a short sale? Our realtor is surprised that we have continued to make payments on our house thru the drawn out short sale process. I know that most people who choose a short sale have already defaulted on their loan, however, we have not. We’ve never paid late. We’re very dedicated to having...
  9. Do u have any suggestions of websites where I can post my ‘HOUSE FOR SALE’ ad, other than face book? I have craigslist already. That one is great! I need other sites that can reach as many people or close to it. Something with great results....
  10. Can my mortgage lender come after me if I short sale my house? I am thinking about short selling my home. Can my mortgage lender come after me if I short sale my house? Can I have AZ state statues and laws as proof?...