How to Make a Short Sale Work for You

When considering purchasing a short sale, there are several things that you have to take into consideration. While you can save a substantial amount of money on some short sales, they are not for every buyer. If you do not work the short sale properly, you will not save as much money as you could and go through a lot of hassle in the process. Here are a few things to think about before you get involved in a short sale. 

Consult an Agent

Before you make an offer on a short sale, it would be a good idea to hire a buyer's agent. An experienced real estate agent can help navigate you through the short sale process with minimal problems. The most important thing is they can help you make a realistic offer. If you offer something that is not realistic, your offer will not be accepted by the bank.

Be Patient

The most important thing to realize is that you need to be very patient. The short sale process can take much longer than a normal purchase. Even if you make an offer and the seller accepts it, the bank still has to approve it. Therefore, you could be waiting for many months on any word from the bank. 

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