
We're not out of the woods yet though. The property is going into short sale, meaning the seller owes more on the property than we offered and she doesn't have the money to make it to closing. Her bank has to approve our offer and agree to lose money on the deal. It's kind of the middle ground for the bank and seller between a normal sale and foreclosure. So, we technically don't have it in contract yet to move to closing, but we have sole rights to the property, so no one else can make offers.
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