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3 Short Sale Buying Tips

By Edited Sep 12, 2016 0 0

A lot of people feel like it is best to rent as there are additional expenses that come with owning and so on. The biggest problem is of course the biggest expense that is associated with owning. Keeping in mind if you are single and hoping to move far away, then renting is probably still your best option but there is no reason not to get familiar with these tips so you will know what to do when the time comes.


There are tons of different options for purchasing when you think about it. You have equities, foreclosures, short sales, a ton of options. Lots of people swear by going the equity route which is very good. However some have got a great deal on a short sale so we will go over three tips which will help you in the short sale.


Take Your Time

If you are in a hurry then you should choose a different buying option. Short selling can take anywhere from a month to six depending on the different laws and other factors that there are just too many of to explain. You need to know yours for your particular state and how that works. Also if you are in it for the short term then you cannot wait until something comes up which you will be happy purchasing along with being cheap. So to put it a little shorter, be patient! Things won't happen overnight.


Don't Buy As Is

No matter what anybody tell you, you need a professional inspectors opinion. This is because you never know if there is something seriously wrong with the house which will cost more to fix than the value of the whole house! If this is the case then you just got yourself into a whole heap of a mess. Ensure you take into account fixes such as these into the cost of the house. The beauty of fixes to houses though is that most of them can wait until you get more money, so prioritize accordingly.


Ask a Professional

No matter what type of house you are buying getting a professional involved is usually a good idea. The reason being is that it takes a lot of time and effort to buy and sell a house. If you still want to do it all yourself consider the fact that you could overlook the fact that the house has a second mortgage on it and you would be knee deep yet again. A good professional won't cost you nearly as much as they can save you.



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