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THE SHORT SALE ESCROW
CHICAGO TITLE CALIFORNIA BUYER & SELLER GUIDE
What is a Short Sale?
This term refers to a transaction in which the sale price will not generate enough money to cover the payoff of the seller’s existing loan and closing costs. Working with a willing lender, a seller may be able to negotiate a payoff amount which is less than the actual amount that would ordinarily be required to pay off the loan. The lender agrees to accept the equity available in the property, and the seller
receives no proceeds from the sale of the property.
The Short Sale Escrow
Chicago Title can also handle the specialized “short sale” escrow in which you need an escrow officer experienced in short sale transactions. Many of our escrow officers have received in-depth training
in short sales. Your escrow officer will provide confidential, professional service throughout the transaction, assisting you and communicating between all parties. Our experienced staff can foresee, communicate, and work to remove potential obstacles as they arise, to ensure the best possible outcome.
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