If you have been looking for a new home, and you find one offered under a short sale, this may be to your advantage. While some buyers are wary about buying a home that needs to be sold with the approval of the lender, it's a great way to get a bargain on a home that you love. A short sale may be a perfect way to buy a home, as long as you are able to wait until the offer is approved. The Basics Of A Short Sale A short sale occurs when the homeowner is facing a foreclosure and trying to avoid … [Read more...]
Long-Distance House Hunting Tips
It pays to start with a solid strategy when you have to house hunt from afar. Hunting for a house is stressful enough even if you are moving to another part of town. However, when you are searching for a house from afar, it can make the task of finding the right home for your needs seem almost impossible. Fortunately, in today's high-tech world, you have an array of tools available right at your fingertips that can make it easy to find the perfect house for your needs. So, even if you are … [Read more...]
What You Need To Know About Short Sales
On the surface, a short sale seems like the perfect deal. However, before you take the plunge, you need to understand how this type of home purchase works. What Is a Short Sale? A short sale is a home sale in which the homeowner is selling the home for less than he or she currently owes on the mortgage. In most cases, this means that the buyer is paying less for the home than it's worth, which leads to instant equity. Short sales allow homeowners to get out from under mortgages without damaging … [Read more...]
Pros And Cons Of Buying A Foreclosure
When a homeowner stops making regular mortgage payments, the bank can foreclose on the property. This means that the bank takes possession of the property in an attempt to recover the debt the homeowner owes. In some cases, the bank may try to recover this debt by selling the property at auction. In other cases, the bank will simply list the foreclosed home for sale. Choosing to purchase a foreclosed home has both advantages and disadvantages for the buyer. Weighing these advantages and … [Read more...]
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