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Buying A Short Sale - 12 Steps you MUST know...
Buyers have a GREAT opportunity to buy homes well below market value when shopping short sales. A short sale may be defined as the sale of a home at a price less than the existing mortgage balance, but there are 12 steps you MUST know when buying a short sale...
As banks continue to foreclose on homes in Wisconsin, buyers are sure to come across some amazing garage-sale priced homes; but buyers have opportunities to buy homes through a "short sale" before a home goes into foreclosure.
What is a "short sale?" A short sale may be defined as the sale of a home at a price less than the existing mortgage balance; however the ultimate price of a short sale lies in the willingness of the bank to negotiate terms. A Short Sale is a complicated process; and quite a rare occurrence until now. Without a doubt, short sales transactions are becoming common and will continue to be prevalent over the course of the next year.
It is good advice to consider hiring professional help when you are looking to buy a home. Look for a Realtor who specializes in distressed properties and specifically certified in the short sale process. A short sale ... more
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