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Short Sales
So what is a short sale?
A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. Instead of buying from a seller, you are purchasing the property directly from the lender for a discount.
For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $290,000. You write an offer to the lender for $210,000, which is accepted as full payment for the loan. This is a short sale.
Why are they willing to take such a discount? Several reasons.
First of all, banks do not like excess inventory and bad loans on their books; therefore, if they see an opportunity where they can sell the property without a huge loss, they will do it.
Secondly, lenders know they could lose a lot more money if the property goes to auction. There are so many fees involved if the property goes to auction, that they would be better off taking the discount beforehand and be finished with the headache of it all.
 
Remodeling and Renovations >Show And Sell
Real estate agents are often asked "What is the best way to show and sell a home?" Almost every agent can tell you a story about meeting with a prospective seller who has just completed a lot of work to prepare their home for the market. It can be difficult for a real estate agent to tell the seller that their renovations were not the best changes to effectively market their home.
If you are considering making any improvements prior to selling your home, the best advice is to consult with your agent before you make any changes. An experienced real estate agent can provide you with information that can help you decide what kind of improvements will set the stage for a sale. Whether it is paint and wallpaper, remodeling the bathrooms, or updating the kitchen, your real estate agent can guide you toward "neutral" choices which can assist the buyer's imagination.
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| Q |
Exactly how many islands are included in the group called the 1000 Islands?
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| A |
There are actually 1,864 islands in the 80-mile stretch in the St. Lawrence River, between Ontario, Canada and New York State. |
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