Don’t fall for a short sale sign. It doesn’t always mean there is a good deal located there. Read the following article which talks about how short sales are often not worth the effort, and how to find the good deals in short sales.
The term “Short Sale” is used as a teaser by real estate professionals (unethical in my opinion) to suggest that a discounted deal is at hand, and that you can score “a good deal” with a distressed property owner.
A Short Sale is a transaction between a mortgage lender/creditor and a mortgage borrower/debtor in which the lender may authorize the borrower to sell their home for an amount that is less than the total owed to the lender.
Random short sale attempts by inexperienced Realtors result in a 1 in 20 success ratio
Inexperience can lead to 100′s of hours of wasted time and tons of anger along with frustration. Doing your research about short sales will increase the ratio, but do you have the time to dedicate to this? And where so [meant should] you begin?
How can you avoid these costly mistakes?
Find out here: Find the Good Deals in Short Sales | Real Estate Investing.