Considering Buying a Short Sale?

Are you considering buying a short sale? You probably landed on my blog because you are looking for short sale help. That's what I am here for!

One very important consideration before you make an offer on a short sale is the length of time it takes to close escrow. Short Sales take longer than the average escrow, 90-120 days and sometimes longer. Before making an offer make sure you will be in it for the long haul. If you have a strict time frame in which you need to close on your new home and move in, a short sale may not be the right choice for you.

As a buyer of a short sale you must be prepared for the bank to counter your offer. Usually the bank counters the value a bit higher.

It is also important to remember that a home listed as a short sale is being sold as-is. As a buyer of a short sale you cannot ask the seller to pay for inspections or repairs. You must be prepared to do your own repairs if needed at your cost.

Those are just a few aspects of a short sale that a buyer must be aware of before making an offer. Need more help? Post a comment below, give me a call or contact me through my website at Christine Papworth The Real Estate Doctor.