atlantic city: How do I purchase a short sale property?
- 07/25/08 04:57 PM
The answer to this question....same as buying any other home, with the exception it may take longer than a normal closing. In short sales the seller is asking to be qualified through their mortgage lender, to have the lien on the their property removed for less than is owed on the property. The seller must comply with the requirements of the bank to be approved for the short sale. So most of the differences on a short sale are on the sellers side. For buyers these could be excellent opportunities for home ownership or even great investments. Alot of the time … (0 comments)
The answer to this question....same as buying any other home, with the exception it may take longer than a normal closing. In short sales the seller is asking to be qualified through their mortgage lender, to have the lien on the their property removed for less than is owed on the property. The seller must comply with the requirements of the bank to be approved for the short sale. So most of the differences on a short sale are on the sellers side. For buyers these could be excellent opportunities for home ownership or even great investments. Alot of the time … (0 comments)
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