Short Sales – A great way to buy instant equity or hell with benefits?

May 5, 2010

I have been asked many times if there is an advantage to buying a property in a short sale. The short answer is “YES” because often times you are purchasing the property below it’s market value. The longer answer is “only if you have the stomach for it and good realtor”. The banks are starting to realize that it’s a good thing if they are co-operative about the process but it’s still a grueling task. The Consumerist (a website I love and adore) had a fantastic personal account of what it’s like to go through a short sale. They are not all like this but it’s a good read.

http://consumerist.com/2010/05/what-its-like-to-buy-a-short-sale-house-hell-with-benefits.html