The definition of yoke is the bar that is used as a frame to pull or support something heavy. 1. An example of yoke is the wood that oxen are hooked to on an old-style plow. 2.
Short sale (real estate) A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished. A Short Sale is not to be confused with a Short Settlement. A short sale has two intrinsic and inseverable components. A Short Sale is successful when The Lien holder is agreeable to net less than the amount o
A short sale means that your contract is below the amount of the loan that exists on the property. The mortgagee will look at the offer and decide whether to accept it. It can take a while for that to happen, but in the meantime the house is under contract. By you. The real estate term âunder contractâ means that a binding agreement exists between a buyer and a seller of property. The buyer and the seller are in agreement with the terms in the contract. When a property is under contract, the seller may not enter into contract with any other buyer.