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A short sale may be an option when a home’s sale proceeds are not enough to fully satisfy the mortgage payoff and other required obligations. The lender or mortgage servicer generally must approve accepting less than the full amount owed. Approval, timing and terms are not guaranteed. Owing more than a home is worth does … Continued

A higher headline offer is not always the same type of offer. Compare the structure and terms—not only the number. One offer may come from a buyer intending to close directly. Another may involve an assignment, existing financing or marketing the home to a different buyer. Start by asking what has to happen before you … Continued

A high offer can get your attention. Before you sign, find out who is making it, where the money will come from, and what the agreement lets each side do. Who is the buyer, and how will closing be funded? Can someone else take over the agreement? Which contingencies, deadlines and obligations apply? What role … Continued

One option that may be discussed is a purchase “subject to” the existing mortgage. In this type of transaction, ownership may transfer while the existing mortgage remains in the seller’s name. Most home sales pay off the existing mortgage at closing. But sometimes a seller has limited equity, needs more flexibility, is carrying another home, … Continued

A direct cash sale is not automatically the best choice for every homeowner. Listing with a real estate agent may be the better path when your home is market-ready, you have time to market it, and your priority is pursuing the highest price the open market may support. A direct purchase may fit when repairs, … Continued