Short sale properties – What you need to know.

If you are looking to buy a home in the near future, there is a good chance a lot of the properties you look at will be short sales.  The Lawhead Team would like to share some helpful short sale tips for prospective buyers.

A short sale is an attempt by the current owner to sell a home instead of the bank taking it back to partially save their credit and lift the burden of the huge mortgage debt they were paying.  Unfortunately, with a short sale the entire process relies on the hope that the bank will take a loss, approve the sale and eliminate the costly process of foreclosing, clearing and reselling a home.

This article, “Making an Offer on a short sale? What You Need to Know” is from Realtor Magazine.

You’re a good candidate for a short sale purchase if:

If you’re serious about purchasing a short sale property, it’s important for you to have expert assistance. Here are some people you want to work with:

Short SaleSome of the other risks faced by buyers of short sale properties include:

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

If you are in the market for a new home, please call The Lawhead Team for all your Real Estate needs. Article can be found at: