Trending December 2023 # Short Sale In Real Estate: Meaning, Process, Strategies # Suggested January 2024 # Top 13 Popular

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What Does a Short Sale in Real Estate Mean?

A short sale in real estate is a voluntary process where the homeowner sells the property for a lower amount– less than the actual price– to pay off the mortgage. 

For example, Anna purchases a house with a mortgage of $2,500,000. A few months after the purchase, she is laid off from work and cannot pay the mortgage. Therefore, she sells her property at $2,000,000 to another buyer and uses the fund to pay off her mortgage.

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Key Highlights

A borrower sells the mortgaged property for less than the loan balance.

Selecting a professional lender and hiring an experienced short-sale agent can be an excellent strategy.

The short sale process can finish in a few weeks or last more than a year.

While a short sale is a voluntary approach to settling a pending mortgage, foreclosure is an involuntary method by the lender to take over the property.

How Does a Short Sale in Real Estate Work?

A real estate short sale arises when the property owner is in financial distress.

It mostly happens when there is a downturn in the housing market, such as the recession of 2007-2009

In this case, the owner prepares to trade their property for a lower amount and pay the lender with the funds obtained.

As the payment is less than the mortgage amount, the lender can waive the remaining amount or opt for a deficiency judgment.

In case of deficiency judgment, the lender sends the borrower a legal notice to pay the remaining debt, and the borrower has to make other arrangements.

Finally, if the lender waives the debt after the proceedings, the income will be taxed in the US. However, it will not be for tax purposes in India.

Short Sale in Real Estate Process Persuade the Lender

The borrower must make sure that the lender agrees on a short sale

They should be persuasive and list their valid financial difficulties, such as job loss, disability, etc

Determine a Price

After the lender agrees on the sale, the owner must decide on a selling price. They must ensure that the final value also includes the expense of selling the home.

However, there might be a shortfall after the sale. Therefore, the lender can still demand a full/portion of the payment in some areas.

Complete the Paperwork and Look for a Buyer

Collect all necessary evidence to show that the owner has a financial issue, such as divorce paper, bank statement, medical expenses, termination letter, etc

Create a proposal including all documents and start searching for a buyer for the property after completing the paperwork.

Submit Proposal

Once the documentation and the buyer are ready, present the offer to the bank.

Ensuring that the request has all the required information, like why making the mortgage payment is difficult

Adding any proof can help fasten the process.

How Long Does a Short Sale in Real Estate Take?

Generally, a short sale approval can last from weeks to months. Sometimes it can also take up to a year.

The process involves many factors which may hinder the approval, and thus the process can delay

Additionally, as the bank officials have a majority of proposals, it takes excess time to review the new proposals.

Approaching an agent can help reduce the time taken for approval.

Strategies of Short Sale in Real Estate

The buyer, seller, and lender can hire a professional agent for the best deal.

The owner can opt for a loan modification that reduces the loan arrangement.

Selecting an ethical and reliable lender can be the best way to mitigate the loan, as they can reduce or waive it.

Short Sale vs. Foreclosure

Short Sale


A short sale is a voluntary proposal to sell a property for less than what the owner owes as a mortgage. Foreclosure is an involuntary process where the mortgage lender or the financial institution seizes the owner’s property through a legal forum.

The borrower can still negotiate with the lender There is no room for negotiation in this case

The process may take several months The procedure is quick

As the borrower cannot pay the entire debt, they may have to pay the rest in the future. As the entire ownership comes to the lender, the borrower does not owe anything else to the lender.


Since it is a voluntary process, the buyer and the seller have choices in the deal and can avoid foreclosure. As the property trade happens for a significantly lower amount, the seller and the buyer may lose.

The borrower can approach an agent to reduce the time required for approval. Sometimes the appointed agent may give wrong information, delaying the process.

It has less impact on the credit score. The lower selling value may hamper the healthy competition among the investors of a similar property.

Final Thoughts

A short sale in real estate is selling a property at a meager price rather than the market price. The buyer and seller should understand all aspects of the deal before entering into such contracts. Experts with Short Sales and Foreclosure Resource certification have received specific training in short sales, lender negotiations, and buyer protection. Therefore, hiring them can be beneficial.

Frequently Asked Questions(FAQs)

Answer: One drawback of a short sale is the loss the seller experiences when the property is sold for a considerably lower sum. Additionally, if the buyer/seller chooses an agent and if the agent provides incorrect information, the sale may result in a significant loss.

Q2. What is the difference between a foreclosure and a short sale? Q3. Is buying a short sale in real estate a good idea?

Answer: A short sale has mixed results. In the case of a buyer, they may end up with a profit. Short sales may need a lot of time for the seller and even result in a loss. Additionally, the bank may deny the deal and go ahead with the foreclosure for more profit.

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Top 9 Real Estate Chatbot Use Cases & Best Practices In 2023

Real estate is the top industry benefiting from chatbots, followed by travel, education, and healthcare. Chatbots are available 24/7 for:

In this article we explore  the top 9 use cases of chatbots in real estate to show their full potential for the real estate companies.

Why are chatbots important for real estate?

A survey showed that the first step for a home buyer is to search for properties online, and on average, it takes 10 weeks to settle on a property. 9 out of 10 respondents younger than 62 years old said that the most important feature of online search was the property photos.

From a customer point of view, chatbots are helpful in searching for homes to buy or rent, because they provide:

24/7 service: Most people search for properties outside working hours which makes it harder to reach out to a live agent.

Instant responses: Businesses that implement chatbots in their customer service department save up to 30% of costs by speeding up response times.

Multiple language options: This is especially important for foreigners moving to a new country where they do not speak the language.

Interaction capabilities beyond just text: For example, chatbots can help customers navigate pictures or the gallery of a property, especially for properties with numerous pictures. After viewing pictures, they could immediately ask more questions to the bot or skip the property completely.

Allowing chatbots to handle these queries frees up the real estate agents to focus on finding properties and optimizing their marketing strategy. Chatbots can lead to savings of up to $23 billion from annual salaries.


Salesforce Service Cloud Contact Center is a comprehensive customer service solution that enables organizations to manage their customer support operations and deliver good-quality customer experiences. Intelligent chatbots in the Contact Center provides personalized recommendations to the customers, automates answering customer questions and hands customers to the relevant agent.

What are the top use cases of chatbots in real estate?

Here are the top 9 use cases of chatbots in real estate:

Typical chatbots will pop up once a user opens a website. Real estate chatbots can start a conversation with an online user about their purpose for visiting the agency’s website (e.g. are they looking to buy, sell, or rent?) and ask for their contact information. 

Chatbots can then reach out to potential customers, send them emails about properties relevant to their search queries, or text them about promotions and campaigns on rental homes.

2. Build customer profiles

Chatbots can ask users questions to understand users’ preferences in terms of:

Area, city, town


Requirements (e.g. rent, buy, lease)

Property type (e.g. apartment, house, condo)

Number of rooms, bathrooms, backyard options, open or closed garage options

Chatbots can collect these information from users to create a profile for each user and provide them with personalized property options and listings.

3. Answer questions about properties

Users searching for properties to buy or rent may have questions about the properties that are not directly available online, such as the average of monthly bills, the history of the building, and previous owners or tenants.

Chatbots can have access to the agency’s database which holds this information, and can provide prospective customers with the information according to the agency’s third-party privacy policy. Chatbots can also answer FAQs about the agency, working hours, available locations, etc.

4. Provide virtual property tours

Users can also ask the bot to show a specific room or feature in the house, or provide more information about the spaces and measurements.

5. Schedule property viewings

Users can schedule a walkthrough with a live agent via the chatbot. Real estate chatbots can be programmed to search within agents’ calendars and provide customers with available days and slots for them to choose. 

Once users pick a date, the chatbot will automate the scheduling, add the event to the agent’s calendar, and send emails or messages to the customer for confirmation.

6. Follow up after property viewings

Chatbots can directly contact customers via messages or emails after property viewings to ask them if they have decided on the purchase, or provide them with different suggestions if they are still looking. 

7. Check for mortgage options

Users can check with chatbots to see if they qualify for a mortgage, ask for tips to qualify, and apply for a mortgage via the chatbot . Real estate agencies can connect their chatbots with partner banks or lending institutions to directly notify them about their financing options.

A survey has shown that 16% of buyers look online for more information on how to get a mortgage and general home buyers tips, and 14% apply for a mortgage online.

8. Collect reviews

After completing a purchase, or signing a rental contract, a chatbot can reach out to a customer via personalized emails to ask them to fill a survey about their experience, or via texts to have a conversation and understand their overall satisfaction with the agency.

9. Analyze market trends


Haptik is a conversational AI company that builds chatbots and intelligent virtual assistants for numerous companies from a variety of sectors. Disney, HP, Tata, and Zurich Insurance are the examples of Haptik’s Fortune 500 clients.

As of today, chatbots that are deployed by Haptik performed over 4 billion conversations. And vast training data set and valuable intent recognition capability makes their chatbot suitable to numerous industries, including real estate.  

To learn more about what AI can do for the real estate industry, feel free to read our in-depth article Real Estate Digital Transformation: Techs & Applications.

What are the real estate chatbot best practices?

To make the best of your real estate chatbot, you might want to consider the following best practices:

For more on chatbots

We’ve also investigated chatbot use cases and applications in different industries, such as:

If you still have more questions about chatbot and conversational AI technology, feel dree to read our in-depth whitepaper on the topic:

You may also find our whitepaper concerning voice bots:

And if you are interested in investing in an off-the-shelf chatbot or voice bot solution, don’t hesitate to check out our data-driven lists of vendors for chatbots and voice bots.

And we can guide you through the process:

This article was drafted by former AIMultiple industry analyst Alamira Jouman Hajjar.

Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.





A Short Guide To Guides, Grids And Rulers In Photoshop

A Short Guide to Guides, Grids and Rulers in Photoshop

Last Updated on September 7, 2023

One of the easiest ways to improve your designs, whether they are for print or screen, is to align visual elements. Photoshop provides us with a set of tools that make it simple to place components in the right spots. These tools are the guides, grids and rulers. Guides and grids don’t show up when you save your file for print or screen, so you don’t have to worry about deleting them.

In Photoshop you can use guidelines to help you line up images, text or shapes in your document. You set up these guidelines by dragging out from the rulers at the top and side of the workspace, so the first step is to make sure your rulers are visible.

When I was making this poster, I used guidelines to line up all the text, the logo and the dark hairline at the bottom left of the poster.

Rulers in Photoshop

Ok, now your rulers are visible, you can drag the guides out.

Smart Guides in Photoshop

Smart Guides are special guides that appear onscreen when certain spatial relationships occur between objects on your document. For example, if you were moving an object (let’s say a photograph) around, and the top of the photo aligned with the top, or centre, or bottom of another object (let’s say a piece of text), then a guide will appear telling you what that relationship is.

When you use them for the first time, Smart Guides can be a little confusing, but as you get used to them you’ll see that they are a really useful tool for aligning objects nicely on your document. They’re great for helping with graphic design layout.

In the example below, the blue Smart Guide appears when I move the apple shadow (which is the bottom of the apple illustration) in line with the baseline of the text “Apple”. Note that these objects are all on separate layers.


After the object aligns to a guide, you can gently move it along that line to snap it into place with other guides, too. If you don’t want an object aligned with a certain guide, just keep moving it and it will let go of the guide when it is far enough away.


The grid appears on your document and by default the gridlines are spaced an inch apart with four subdivisions. You can change how the grid looks and the size of the divisions in the preferences, which we’ll look at in just a moment.

In the example below, you can see another poster with the grid overlayed. I’m using the subdivisions here as well as the larger heavier main grid lines, to align text and to also judge the distances between objects.

Preferences for guides and grids

You can adjust the gridline marks by changing the number in the Gridline Every field, and use the drop-down menu next to it to change the grid’s unit of measurement: pixels, inches, centimeters, millimeters, points, picas, or percent. Use the Subdivisions field to control how many lines appear between each gridline. You may not want any subdivisions, so you can set it to 1, if that’s the case.

I hope you’ve found this guide to guides useful 🙂

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Social Cognitive Theory Meaning Significance In Social Context

The principle states that knowledge is gained through observing a chain of events, including a model’s demonstration of a habit and its subsequent consequences. For some people, observing a model accomplish a skill is enough of a cue to motivate them to try it out on their own. To paraphrase, the survival of the human species depends less on people learning new behaviors through trial and error and more on their capacity to imitate the actions of others. Whether or not the seen action was rewarded or punished can influence whether the observer adopts the modelled behavior. Many people, in a wide variety of settings, may identify with characters depicted in the media.

What does Social Cognitive Theory Define?

Learning takes place in a social setting where the learner, his or her surroundings, and the teacher’s or tutor’s actions interact in a dynamic and mutually informative way. SCT’s distinguishing feature is its weight to positive external and interior social reinforcement. Individual differences in learning and memory, as well as the context in which behaviors are carried out, are considered in SCT. The hypothesis considers past experiences as a factor in determining future behavior. A person’s reinforcement, anticipation, and expectation histories influence the likelihood of engaging in a certain activity and the factors that motivate that behavior


Many behaviors change theories adopted in health promotion focus on getting people to start doing something rather than keeping them doing it. Unfortunately, the goal for public health is not simply the commencement of behavior but its maintenance as well. The purpose of SCT is to explain how people use regulation and reinforcement to acquire and sustain behaviors beneficial to their goals.

Reciprocal Determinism

: It is this central principle that drives SCT. A person’s “environment” is the larger social setting in which they find themselves, whereas a “person” is an isolated entity with their personal history and perspective (responses to stimuli to achieve goals).

Behavioral Capability

It describes a person’s capacity to carry out behavior using necessary knowledge and abilities. A person must know what to undertake and how to accomplish it to complete an activity. A person’s actions have repercussions, and these effects can be observed in the world around them.

Observational Learning

It is a claim that humans can learn to replicate the activities of others just by watching them. Behavior “modelling” is a common manifestation of this. A person’s ability to do an action is greatly enhanced if they see that same behavior performed effectively by another.


What this means is that the chance of continuing or ceasing a behavior is affected by the person’s internal and external reactions to the conduct. Both positive and negative reinforcement can come from within or outside the learner. This SCT concept is especially relevant for understanding the two-way causality between behavior and its surrounding context.


That which follows from a course of action is what this term describes. Health-related or non-health-related outcomes can be expected. Before acting, people often mentally play out possible outcomes, and this mental rehearsal can significantly impact whether the action is carried out as planned. Past experiences are the primary source of expectations. Expectations, like knowledge, are based on experience, but they are different because they depend on the outcome and are subjective


A belief in one’s competence to accomplish anything. While other theories—like the Theory of Planned Behavior—have since adopted the idea of self-efficacy, it was initially proposed in SCT. Both internal (one’s skills and qualities) and external (one’s surroundings) elements can have an impact on one’s sense of self-efficacy (barriers and facilitators).


As per the social cognitive theory, there is a significant gap between moral competence and engagement. To be morally competent is to be capable of acting morally, while to behave morally is to act following one’s moral standards in each circumstance. Moral competence knowing right from wrong results from developing cognitive-sensory processes. Morality is affected by rewards and incentives. A person’s morality may change if stealing is rewarded with much money. Since the social cognitive theory is centered on this, and since murder, theft, and unnecessary violence are banned in most societies, there is little opportunity for alternative moral beliefs. The social cognitive theory applies to all nations as it does not define morality or immorality. Real-life decisions are based solely on morality and reward.


It includes

The notion presumes that a person’s behavior will mirror their environment, even though this may only sometimes be true.

Instead, the idea has no rigid framework and focuses on the complex interplay among an individual’s traits, actions, and surrounding conditions. It is still being determined how much influence these factors have on people’s actions or which is more important.

Even though biological and hormonal predispositions may impact behaviors regardless of prior experience and expectations, the theory places a heavy emphasis on the processes of learning.

Emotion and motive are not central to the idea, except as they relate to the past. These considerations receive inadequate focus.

The scope of the idea can make it hard to put into practice in its totality


The Social Cognitive Theory considers many facets of the social ecology model in investigating how people can change their behaviors. In health promotion, SCT has become increasingly applicable because it focuses equal attention on the individual and the surrounding environment. This is particularly relevant considering that the latter has recently been a focus for health promotion activities. When developing specific public health solutions, it may require more work to apply all the components of the SCT to a single public health issue, as is the case with other theories.

Host Process For Setting Synchronization In Windows 10

Do you own a Surface Pro? Then you might have noticed your device is running with different Windows 10 OS versions. J

ust like other users, you may also face issues with the Host Process for Setting Synchronization. This process consumes 20% to 100% of your CPU resources in your Windows 10 PC. In this condition, your system runs with a snail’s pace.

What to do next? How to fix it? How to bring back the mint condition of your Surface Pro?

No need to worry! Check out our tutorial, direct from the expert’s desk. Go through to know it all. Your high CPU usage issue will be fixed as soon as you adjust the chúng tôi – the associated file of the Synchronization host process.

Let’s start now!

However, the associated file with this sync process is known as “SettingSyncHost.exe file”. You will find this file within the System32 folder. Many users assume it to be a virus, but this is not true at all. It’s somewhat an important and legitimate process in Windows 10. But the problem starts when it consumes too much of your system resources. We have surveyed through a number of community forums and found 100% CPU usage for the host process is a common error in Windows 10.

Now you have the basic knowledge regarding this process. It’s time to know how to disable it instantly?

Many Windows 10 users have bypassed this error just by disabling this process in Windows 10. But it’s just a workaround, not a permanent fix. That’s why it keeps coming back with time. Anyway, our experts’ have found quite a hand full of potential fixes for you. Until Microsoft releases an update to fix the error, you can apply our troubleshooting methods to get rid of it.

Here you go!

You might not aware of the recent Windows 10 update. Microsoft has released it as soon as they got to know about the high CPU usage error related to Setting Sync Host. So, if you haven’t updated your Operating System yet, follow the below process to do it and fix the error followed by other bugs.

Firstly, press the Windows logo key + “S” button at a time

Next, write “Windows Update” in the appearing search box and hit enter

Now, the Windows Update window will be opened

Here you will find a button named “Check for updates”

Once you see there is any pending update, install it as soon as possible

Finally, restart your PC just after the 100% installation of the latest version

You are done! Check whether the issue is still there. If it is, perform our next troubleshooting steps to fix it.

Note: You have to have the administrative privileges to perform this step.

Let’s proceed now.

Firstly, press the Windows logo key + “R” button at a time

Next, type “regedit” in the appearing dialogue box and press the enter button

Now the registry editor will open, locate the path- “HKEY_CURRENT_USERSoftwareMicrosoftInputPersonalizationTrainedDataStoreen-GB2”

Then, select the “Permissions” option from the appearing list

Next, hit the “Full Control” option for each user’s group turn by turn

At last, exit from there and restart your PC

Your issue must get sorted now. If it isn’t, check out the rest of our guidelines given below.

You can write a PowerShell script if both of the above processes fail to heal your PC. To do so, you need to perform the below steps and have credentials for registering the job on your system.

Next, choose the “New” option from the appearing list

It’s time to create the text document, name it as per your wish

Register-ScheduledJob -Name “Kill SettingSyncHost” -RunNow -RunEvery “00:05:00” -Credential (Get-Credential) -ScheduledJobOption (New-ScheduledJobOption -StartIfOnBattery -ContinueIfGoingOnBattery) -ScriptBlock {


Now, delete the file extension “.txt” in the file name portion and write “.ps1” (without quotes)

Then, hit the “Save” button from the Save As window

Now choose “Run with PowerShell” from the pop-up menu

Next, put your credentials to log in to your administrator account

Finally, check if the high CPU usage error still persists. The issue must get fixed after performing this solution. So you are good to go now!

Winding Up

How To Process Iterators In Parallel Using Zip


List comprehensions make it easy to take a source list and get a derived list by applying an expression. For example, say that I want to multiply each element in a list with 5. Here, I do this by using a simple for loop.

a = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10] multiply_by_5 = [] for x in a: multiply_by_5.append(x*5) print(f"Output n *** {multiply_by_5}") Output *** [5, 10, 15, 20, 25, 30, 35, 40, 45, 50]

With a list comprehension, I can achieve the same outcome by specifying the expression and the input sequence to loop over.

# List comprehension multiply_by_5 = [x*2 for x in a] print(f"Output n *** {multiply_by_5}") Output *** [2, 4, 6, 8, 10, 12, 14, 16, 18, 20]

Now, let us say you have couple of lists for addition.

# 1 . Create a List of Numbers list1 = [100, 200, 300, 400] list2 = [500, 600, 700, 800] # 2. Add the two lists to create a new list list3 = [] # Using a Loop. for i in range(len(list1)): added_value = list1[i] + list2[i] list3.append(added_value) print(f"Output n*** {list3}") Output *** [600, 800, 1000, 1200]

Now what’s important here is that the items in the derived list (list3 in our case) of added values are directly related to the items in the source list by their indexes.

Now as far as zipping goes, here is a zip solution for the same list integers. In this case, two lists of integers, one containing 100, 200, 300 and 400, and one containing 500, 600, 700 and 800. And of course, we can define those and assign them to variables. And they don’t have to be lists.

They could be other sequences, such as tuples, so on.

So what we’re going to do is zip together the pairs of elements from those, so 100 from list1 and 500 from list2 will be zipped together, and so on. For each tuple, as we iterate through them, we will unpack the tuple into the variables a and b.

list4 = [] list4 = [(a + b) for a, b in zip(list1, list2)] print(f"Output n*** {list4}") Output *** [600, 800, 1000, 1200]

Now above solution looks really cool, however there are is a serious issue you need to know before applying them in your code.

zip built-in function behaves strangely if the input iterators are of different lengths. Let us try them.

# add a new number to the list list1.append(1000) print(f"Output n*** Length of List1 is {len(list1)} , Length of List2 is {len(list2)}") # run the zip against the list for addition. list5 = [(a + b) for a, b in zip(list1, list2)] print(f"*** {list5}") Output *** Length of List1 is 9 , Length of List2 is 4 *** [600, 800, 1000, 1200]

Now when we print out each added number from list3 you’ll notice that the number added to list1 is missing, even though we appended it there and it’s in the list1 it doesn’t show up in the output of zip.

And this is just how zip works. It keeps you in tuples until any, either of the iterators are exhausted. So even though list1 has more to go compared to list2, it gets exhausted first and so then the loop exits.

Surprisingly, you are not notified with any exception. So you have to be very careful with zip in production.

You have an option for this problem in python function from itertools called zip longest.

What this zip longest is, it keep going even when one of the iterators has been exhausted.

from itertools import zip_longest

list6 = [] for a, b in zip_longest(list1, list2): if b is None: elif a is None: else: list6.append(a + b)

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