I recieved an email about buying properties using a short sale to save 40 or more percent.
2007-02-27 07:29:23 · 3 answers · asked by struck 2 in Business & Finance ➔ Renting & Real Estate
I deal with foreclosures and short sales on a daily basis. Short sales can be a great deal and they can be a headache. First you have to wait until the lender accepts the short sale (can take 2-10 weeks!). Then you have to hope that their BPO comes low to make the sale work.
I am on the phone right now with a lender who thinks that their property is worth more than what I sold it for, so the deal is about to go south after a month and half waiting for the bank! It's my fault for not meeting the guy who did the BPO to show him the comps for that area.
Regards
2007-02-27 07:50:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
A short sale is a way for a homeowner to avoid foreclosure. You would be buying homes from owners whose homes are about to be foreclosed. Some of these homeowners MIGHT be willing to sell the home for less than its actual value--say, enough to pay off the mortgage and move on??
2007-02-27 15:37:09 · answer #2 · answered by indiana_darlin 2 · 0⤊ 0⤋
I wouldnt go with a mail flyer, frankly Im shocked people still mistake junk mail for actual opportunities. But one is born every day right?
2007-02-27 16:21:27 · answer #3 · answered by Mark P. 5 · 0⤊ 0⤋