Buying a short sale home
By admin - Last updated: Tuesday, February 24, 2009 - Save & Share - Leave a Comment
Q: What are the pros and cons of buying a short sale home?
A short sale typically describes a home being sold with a contingency of the lender or lenders of the seller agreeing to accept less money from the seller than is owned. A positive of buying a short sale home is that you will often be able to pick up a home being sold with this contingency at a fair market value. A negative aspect of trying to buy one of these homes is the time it may take for the lender to finally decide if they are willing to accept the payoff your offer will leave the seller after costs.
To find out about other pros and cons of buying a short sale that you should contact your local real estate expert or attorney.