problems: Dangers Of Short Sales For Home Buyers - 04/06/10 02:51 AM
Dangers Of Short Sales For Home Buyers
This list includes many of the dangers and things that can go wrong for buyers purchasing a short sale.
1. Time: It will take 5 to 6 months or longer to get an answer from the bank.
2. During that time home values may continue to decline.
3. If the bank approves the sale in may no longer appraise at the sales price.
4. It the bank approves the sale you will often have just 30 days to close creating a rush to get all the necessary requirements completed.
5. Interest rates potentially … (0 comments)