"Are you kidding me?" These are the words coming from an astonished outraged neighbor.
"That's right; I just sifted through the inventory and found the best deal," said the overzealous new homeowner.
As everyone knows right now, if you're looking to buy a home, you have as good a chance to find what you're looking for more than ever. There is so much inventory on the market right now and since it's a buyer's market, there is room for negotiation. In the case of the overzealous new homeowner, he scored a house through a short sale. Because of the short sale, he was able to get the house at an incredible price. Not only did he get a great deal but it's one of the prime locations in the area. For those of you that don't know what a short sale is, it means the lender is accepting less than the total amount due. The seller for some reason cannot continue to make the payments and instead of destroying their credit, they apply for a short sale.
Personally I know the seller that had to basically give his house up because of other reasons and it burns him to know that this overzealous homeowner got such a great deal. Don't let what you hear in the news shy you away from purchasing a home if you're thinking about it, you may miss out BIG time.
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