Buyers Short Sales Beware

Short sales have been a big buzz lately and so have bank foreclosures. Which one is a better buy? Before buying a property I encourage you to understand the complexity of the process when buying one of these bargain deals. Or at least make sure you are working with an experience agent that can foresee any potential issues that may arise when buying a distress sale. Buying a home that is being sold as short sale can have immediate issues. One quick question I would ask your real estate agent does the listing agent have a full approval from the lender(s) to sell the property (short payoff)? The lenders that have interest in the property will issue an approval that should be forwarded to the buyers agents. 2ND thing I would do is review the terms of the short sale. Reviewing the terms of the short sale agreement will provide the terms and details of the transaction. For more information on buying bank foreclosures, short sales, and the hottest deals visit www.DavidDelgadoRealty.com or call David at 562-252-7889
Happy home hunting,
David Delgado, President/CEO
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