What is an Approved Short Sale?

Real Estate Agent with Service First Realty

Writing an offer on an approved short sale is a way to avoid “Emotional Sweat Equity”.  Anyone else besides me love to avoid  anxiety, a long wait time, and disappointment?   Have you heard the term “Sweat Equity”?  Well when it comes to buying a Short Sale home, I have coined  the phrase “Emotional Sweat Equity” because that is what a buyer will invest in their home along with their purchase money when they buy a short sale. Successful short sales close all the time and it can work out great for buyer and seller, but it can sometimes be a long wait and very frustrating as well.  The bank can even at the last minute just decide to send the home to foreclosure and everyone involved are out of luck.

When Looking for homes for my buyers to purchase I love seeing the title “Approved Short Sale”.  This means that some other buyer has done the waiting,  probably endured a little anxiety, and then moved on without purchasing the home.   The bank has sent an approval letter to the seller and the purchase can move forward.   This is when it is your turn to slip right in and buy the home without all the hassle.  Usually you can close in about 30-45 days.  Take a look at these fabulous approved short sale listings in the Phoenix, AZ area.

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