This is one of the best times in history to buy a home if you are ready, willing, and able. Unfortunately, this is also one off the worst times in history to sell your home especially if you're in foreclosure. There are many good people affected by the economic downturn and unfortunately have had to turn to offering their home for sale as a short sale. This is a very good way to go if you need to sell and facing foreclosure. If you're a buyer looking at this type of home for sale, be prepared to be patient, very patient.
I've been lucky to have some short sale listings only take a few days or week to hear back from the bank after I delivered an offer from a buyer. However, it is becoming more and more common to have to wait 1 - 2 months to hear back from the lender whether they plan to accept the offer or not, and 3-4 months is not out of the realm of wait times either.
So just like selling a home as a short sale is a good idea if the situation is eminent, it is also very advantageous to buy a home on a short sale, but please be prepared to wait.
Hopefully this was helpful. As always, if you need help with any real estate needs feel free to check me out online at www.ISellCincinnati.com or email me at mike@ISellCincinnati.com or call me at 513-325-1959. Also, feel free to SEARCH GREATER CINCINNATI AREA MLS HOMES FOR FREE ANYTIME AT www.ISellCincinnati.com.
Until next time, keep living the dream!
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