Property Buy and Sell Tips

Short sale real estate properties are initially attractive, but before you rush off to buy it, it is recommended that you call your real estate agent first before making any decisions. A short sale refers to a real estate property being sold where the purchase price is less than the balance owed on a loan for the property, with the seller (bank or mortgage lender) agreeing to give a discount on the loan balance.

Your estate agent needs to research things like comparable sales, number of lenders and mortgage amounts, number of lenders, the track record in short sales of the selling agent, and the number of other offers on the property. This is to ensure that you are not getting scammed or that there are no hidden problems in a particular piece of property.

This entry was posted on Wednesday, February 25th, 2009 at 11:50 am and is filed under Agents, Buying. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.