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Friday, January 07, 2011

Short Sales – Don’t Get Sucked In!

I have crossed paths with many people who seemed to be getting sucked into the short sale pipeline pipe dream.  Buying a short sale is not for everyone.

First of all, that extremely low listing price is likely not the selling price but rather the "start talking price!"

Of course there is always the chance the low price may just be reflective of the later investment required to repair, fix, update and generally make the house "livable."  [However, that is more common with foreclosures!}

Short sales take time.  After all, the seller may sign off on your offer but in the end it must be approved by the lender(s).  And the lender approval process may take time – months!

A couple of additional tidbits of information on short sales (click the links):
Still, if a buyer is the right buyer - the time, the patience, available cash/mortgage, why not consider a short sale?

For information on short sales in Viera, Florida, call me directly at 321-693-3850 or email me if you prefer.

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