Edgar is in the process of selling his home in a short sale. What's a short sale?

• A. A property sale that occurs in less than one week.
• B. A sale that fails to receive a high enough bid at auction, and then falls to the bank's ownership.
• C. The forced sale of a home due to the borrower defaulting on the mortgage loan.
• D. The sale of a property at an amount less than is owed, not including costs.

Answer: (D)