A Short Sale means the seller’s lender is accepting a discount of the loan payoff to release an existing mortgage to allow a sale to occur. Typically, a seller most likely needs to be in default and have stopped making mortgage payments before a lender will consider a short sale. Just because the seller is.
This article will discuss the “hidden title defects” that can be found in a title insurance commitment. These hidden title defects pose a serious danger to you, as the selling Realtor®, because a buyer harmed by these defects can seek to sue you and your broker to recover the buyer’s losses from the defect. A.