Short Sale Info for buyers
Short Sale Buyer
A short sale buyer must be patient, willing to wait many weeks/months to hear if the sellers bank will consider a short sale. During that time, the sellers bank will review the contract price and sellers financials. The sellers bank may reject, counter or accept the contact between seller and buyer. A buyer should have a long term and flexible time frame for settlement. Buying a short sale takes patience, however, the buyer may be reward with a great purchase price.
What is a Short Sale? See the 3 basic elements needed for a short sale in this quick video.
I've only discussed the basics of short sales here. Please contact me to discuss more details about short sales. Together, we can decide if you are a good candidate to sell or buy a short sale. 703-501-3626
