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Understanding Short SalesOverview Foreclosure Prevention ResourcesFirst, is there an Auction Scheduled?? Click to find out. |
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What is a Short Sale?
When choosing a short sale, the seller of a home arranges with the mortgage company to sell the property for less than is owed on it. The lender will forgive the remainder of the loan in a typical short sale approval.
Investing in short-sale real estate can net huge returns if you have the finances in place to make cash purchases, or pre-approved financing purchases very quickly. Homeowners are often selling their homes for less than the home is worth.
Foreclosed Buying (or aka Bank Owned)
Investors who do not like to negotiate or deal with homeowners will enjoy foreclosure buying. At this point the bank of which held the note now owns the property and it can either be sold at an auction and/or listed in the local MLS system. Each bank has its own procedures for selling the property. Great deals can be the result.






























