BUYING A SHORT SALE PROPERTY
The growth in short sale properties and the potential for "bargain deals" have many buyers interested in purchasing these homes. Since short sale properties usually still have the homeowner residing in the home, the condition of the property is typically in better condition than a foreclosure home. Not all buyers are good candidates for short sale purchases. The short sale process can be very lengthy and although the contract is between the buyer and seller, it must be approved by the lender. This process can be further complicated if there are 2nd and 3rd lien holders as well.
Ideal candidates for short sales are those who have few or no contingencies, do not have to sell their current home, have time to wait out the months of delay and have resources to repair the property, if needed.
Certified in SHORT SALES & FORECLOSURE by the National Association of REALTORS®, I have gained additional information and knowledge regarding distressed property sales. If you are looking for an investment or a new home, I am ready to assist you and help you navigate the process of Short Sales.