What Are The Advantages Of Buying A Short Sale Home? In short, short sales are a good idea if you have plenty of time and money. A short sale buyer may get the property at a reduced price, but the property (in all likelihood) has its share of problems — think “fixer-upper” — and the
Is Short Sale Better Than Foreclosure? Timing also differs: Short sales can take up to one year to close, while foreclosures generally move along much faster because lenders are intent on recovering the money they’re owed. Furthermore, a short sale is far less damaging to your credit score than foreclosure. Do Banks prefer short sales
How Does A Short Sale Work For The Seller? A short sale is when a home owner sells his or her property for less than the amount owed on their mortgage. In other words, the seller is “short” the cash needed to fully repay the mortgage lender. Typically, the bank or lender agrees to a
Are You Allowed To Repair Request For Short Sales? If you request a repair, the seller has the right to ignore, deny, or agree to the request, or attempt to negotiate a compromise. Can you walk away from a short sale? Short sale response times vary between a minimum of 30 days to several months