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What you should know before Buying a Short Sale (Pre-Foreclosure)
Buying a Short Sale property is a great way to score a good deal, however, there are a few things you should know before submitting an offer.
What is a Short Sale?
A short sale is when the seller's lender will accept less than what's owed in order to sell the property and cut their losses.  A short sale will be much cheaper to the bank than a foreclosure.  
When a seller is selling their home subject to a short sale it is the bank that will make the deciding factor on what price they will sell the property. 
Check the Public Records/Assessor's Site
Do your research before making an offer to purchase.  Your Bellingham Real estate agent pull comprables from the MLS (similar properties that recently sold in the vicinity). This is important because it will help you to determine how much to offer on your Bellingham Short Sale Properties.
Hire an Agent with Short Sale Experience
It can make for a timely and difficult transaction if your listing agent has never handled a short sale, but it's even worse if the buyer's agent has no experience in that arena. You need an experienced short sale agent on both sides of ... more

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