Are You A Contender For Buying A Short Sale
Hi, I’m Josh Pomerleau joined by Sarah Wellman, my partner. We are Shortsaleshift.com, Minnesota’s best short sale real estate agents. Today we wanted to speak a little bit about buying a short sale. We have been talking about how to perform a short sale and who qualifies for a short sale. Nonetheless, there are a lot of people out there who want to purchase a short sale.
A good candidate for buying a short sale is somebody who is currently renting. One reason why that is true is because the purchaser needs to be accommodating. We may get approval in one to two months, but we need a purchaser to be adaptable because we can not guarantee that. We may need approvals from multiple groups and there may be numerous factors that need to be worked out.
In can be hard if you are selling a property and purchasing a short sale because the timing does not always line up flawlessly. So, it is helpful to be renting or staying in a transitory housing situation. Then you are a little more open to when a short sale can close.
It is very significant to be flexible. If you can live with family or get into a month to month agreement you may find it easier to purchase a short sale. If there is a house that you are thinking about buying that you truly love, it has most likely come down in value because it is a short sale. It is definitely worth that short period where you may be in limbo. You will be able to close on your dream home at a lower price if you can have the flexibility of dealing with a open ended time line for closing the short sale.
Tomorrow, we will be talking about what you might want to ask the listing agent and what you should know if you are buying a short sale in another episode. Thanks for checking us out at shortsaleshift.com.
Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota
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