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Is It a Good Idea to Buy a Short Sale House in Charlotte NC?
Well, there is no definite answer. Some say this deal is not ideal in Charlotte NC while others say it is a smart move. In our opinion, buying a short sale house in Charlotte NC is a great opportunity. You should have some knowledge before jumping into this market. First of all, it is important to consult an experienced agent. Here is what you need to know about the Charlotte foreclosure market.
 

 
What is a Short Sale?
 
Usually, people tend to buy a short sale house in Charlotte NC as they believe it is a good deal. You should confirm from your agent if the house is a short sale.
You must know what a short sale is. A successful short sale means the seller's lender can accept a discounted payoff on the house. The deal is subject to the lender's approval and not the seller's.
That's because sellers must qualify for a short sale. If their agent sells very few short sales, that's a red flag.
You must also know that the seller doesn't need to be in default before a lender takes a short sale. A lender might consider it if the seller is current, but the value has dropped. The seller sometimes owes ... more

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