Buying a Short Sale

In today’s market where short sales and foreclosures encompass nearly 50% of the Metro Atlanta real estate market, buyers are all wanting to know how to make offers on short sales and sellers are being faced with trying to choose one offer to send to the lender since most are being presented with multiple offers. However, buying a short sale is not the same as buying a non short sale home. There are differences and it is important to understand these differences. Some of the differences being:

  • Time: A short sale may take a considerable amount of time.
  • A Signed Contract does NOT mean a guaranteed approval.  The difference in a short sale is that the lender is approving the seller not the buyer so there is a possibility that the purchase may not be approved.
  • Many other variables may hinder the approval such as value, etc.

Here is a short video that will describe the process.

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