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Buying House Short Sale

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What are the risks of buying a short sale or foreclosure. –  · I’m looking to buy a new home, and I’ve noticed that there are a couple of “short sale” and foreclosed homes in the area where I’m interested in living. These homes are priced.

To determine whether buying a foreclosure or short sale is right for you, consider these tips: Learn about the processes. Read everything you can about foreclosures, attend seminars and seek the advice of others with short sale- and foreclosure-buying experience.

What Is a Short Sale? The Long and Short Of It | realtor.com – What is a short sale? Let’s break it down. Say you’re selling your home; however, the offer you get is so low, it won’t cover the total amount you owe on your mortgage.

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In this buyer’s market, some homebuyers ask themselves: Will purchasing a short sale or foreclosure end in disaster – or yield a jackpot? And which type is best to go all-in with: a short sale.

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Foreclosure vs Short Sale – Difference and Comparison | Diffen – Short sale properties are also often bought for less than appraisal price. However, the process can be very time consuming. Buying a property in a short sale usually takes a lot longer because it’s not just the buyer and the seller who have to agree to the sale. All the lenders that hold a lien on the property have to agree to the sale as well.

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Hi Scott, Buying a short sale is not bad as long as the results are that you get the property in a reasonable amount of time but here lies the dilemma a short sale can take a long time and unfortunately there are no guarantees.

There’s only one reason to buy a short sale home – to get a great deal. "Short sale" simply means the sales price is less than the balance of mortgage(s) owed against it Short sales can.