CONDO & TOWNHOUSE SHORT SALES
Click on the link below to view condo short sales. Condo short sales is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.
The difference between condo short sales and a foreclosure: A short sale is a deal that can be arranged before the property goes into foreclosure, at a time when both the lender and the borrower agree that this kind of sale(one that generates proceeds that are less than are owed on the property)is preferable to a default on the mortgage.
Passaic/Essex and Morris Counties
Disclaimer: We have made every attempt to only include townhouse and condo short sales, there may be some single family homes intermixed. Some of the single family homes may be located in a lake community association or mismarked in the MLS.
Last updated 6/16/2018