Buying a Short Sale
If you are an investor looking for a deal that gives you instant equity, or a home buyer just looking for a good deal, buying a Short Sale may be your answer. The risks that go along with foreclosing on a property have mortgage companies looking for ways to avoid foreclosure and reduce the losses incurred when a loan goes delinquent.
A Short Sale allows the mortgage holder to limit losses on a delinquent loan and take the loan off their books. The discount a lender is usually willing to approve means the buyer get’s a very good deal.