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The attorneys of Smith Sholar update our clients with the latest laws and industry legal trends. Each week we publish Legal Tips of the Week via this website and email. The latest Real Estate, Intellectual Property, and Elder/Estate legal tips are featured below.
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Why do sellers agree to a short sale?
Following are a few of the reasons that the sellers might agree to a short sale:
(1) Effects on credit score might be less.
(2) Avoid the embarrassment of the foreclosure
(3) Potential for negotiating a release for the deficiency from the bank/lender
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