A short sale falls between a regular sale and a foreclosure sale. A home listed for short sale has a motivated buyer for many potential reasons. One such reason is that the home could be in pre-foreclosure, which means the vendor needs money quickly; otherwise they will lose their home.
In a case like this, potential buyers can get a great dealeven a steal of a deal! When you deal with a short sale you can get a home almost as cheap as with a foreclosure sale without a bidding war and without having to deal with the legalities and red tape involved in a typical mortgage foreclosure. You can find many online sources that list foreclosure and short sale deals. A great benefit of a short sale is a very quick closing, which can be an attractive proposition to the seller and buyer.
Comments on this entry are closed.