What is a short sale? Basically a Homeowner owes more money to the bank that the property is worth. This is what it means to be under water with value of your home. Therefore the homeowner would rather sell the property short sale than loose it in a foreclosure.
Let me share an example, a homeowner sells home for 200K but owes bank 250K that means the seller is 50K SHORT on paying back the lender. That is a short sale in Puerto Rico.
If you are looking to buy Short Sales Apartment, condo or house in Puerto Rico we can help.
Just email us at Emilio@BoricuaRealty.com with the specifics of what you are looking for? Bedrooms, Baths, Sq. Ft., Municipality, and amount you are willing to pay for the property.