Are you considering buying a short sale property? A short sale is the sale of a property where the net proceeds from the sale are short of the debts secured by the liens on the property. This can be a complex process with many moving pieces. But there are many reasons this may be a good choice for you. You will be competing with fewer buyers, and you may be able to purchase your home for well under market value. However, since the short sale process is different from a traditional home sale, here are 4 things you should know in order to have a successful short sale purchase.
Purchasing a short sale property can be complex, but often the reward can outweigh the challenge. If you have any questions about purchasing a short sale, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!