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Short Sale - Part 2: How to Buy a Short Sale
Short Sale - Part 2:  How to Buy a Short Sale Property!

If you're not familiar with Short Sales, begin by reading Part 1: What is a Short Sale?  Then come back to this article which takes the next step and explains how to buy a short sale.

So, how are Short Sale Properties Sold?  They are listed with a real estate agent like other properties.  They usually include the words "short sale" or "pre-foreclosure" in the property description section.  Since the current homeowner is in a difficult financial situation, they are usually sold "as is".  It's a good idea to contact a local real estate agent who is familiar with how to buy a short sale and ask them to set you up on a custom search which includes short sale properties.  You can also search for properties on-line, although not all searches allow you to narrow your search to just short sale properties.  Our property search is a good example of one that allows buyers to search for "foreclosed" properties in central Indiana, and the property detail page will state if the property is bank owned or a short sale (pre-foreclosure).

Potential buyers schedule a showing with ... more

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