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The idea of buying a short sale is appealing to home buyers due to the substantial savings when buying a home. Short sales are not for the weary and a home buyer interested in buying a short sale should understand the process to a certain degree.
While banks have tried to expedite the process, the system is still flawed due to the number of homes going into foreclosure, pre-foreclosure and short sale. Usually the process takes between 3 to 6 months to close. For someone looking to move into a home immediately, chances are a short sale may not be for you. If you aren't in a big hurry and getting a fantastic deal is more important than a short sale may be the perfect solution for you!
Buying a short sale can be stressful and you'll need a team of professionals to asisst you through the home buying process. Be particular in who you hire and seek real estate advice from and take the time to interview real estate agents before hiring them. An agent who attempts to handle a short sale and is not experienced or successful could very well put the home seller in foreclosure and could cost you your dream home! For more information, contact Arthur Middleton and Susan Weir today!