Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Ive heard that a buyer can buy the home directly from a bank and do a short sale. How does that work?

April 26, 2017Bank buy buyer directly heard Home sale short

0

Posted

Ive heard that a buyer can buy the home directly from a bank and do a short sale. How does that work?

1 Answer

0

Posted

If you buy the home from the bank you are buying a bank owned property that was likely a) foreclosed on, or b) taken back via a “deed-in-lieu”. This is not a short sale if the home is already foreclosed.