The Pros of Buying a Short Sale You could get a good deal. Banks (and homeowners) are often motivated to find a buyer for a short sale as soon as possible, so sometimes they’ll list the home at a low price so that it doesn’t languish on the market.
Deed in Lieu of Foreclosure vs. Short Sale | Review the pros and cons of accepting a deed in lieu of foreclosure and how it compares to a short sale. Start by..
· Cons of buying a short sale A huge disadvantage of buying a short sale home is that the whole process can take much longer than a traditional home purchase would. For example, it can take a few months just to hear back from the bank about whether they accepted your offer.
Pros and Cons of Short Sale was a insert box of an article written by Naomi Snyder of the Tennessean today and I thought I would share the info. I have handled a number of these short sales, and on New Year’s someone asked me about "looking for a short sale." I don’t think folks understand how much patience as a buyer, you must have with a short sale.
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A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs for both the creditor and borrower. The negative impact on the borrower’s credit score is typically smaller in a short sale than in a foreclosure, but a short sale usually involves a.
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A short sale is a home listed for a price consistent with the market, which is less than what the seller owes on a mortgage. Buying a short sale home is different from buying a foreclosure, in which the bank has already seized the property and has it on the market.. Pros & Cons of Buying.