2 August 2010

Chester VA Homes for Sale: What is a Short Sale?

When Home Owners have a piece of property that is no onger worth the amount they originally paid for it – AND – they have fallen behind in their monthly mortgage payments – AND they are able to prove a condition of “hardship” with their Bank – they might be able to qualify for listing their home as a “Short Sale”.

If you are considering purchasing a Short Sale property, you absolutely  need to understand the process in order to avoid disappointment and frustration.

What You Need to “DO”

  • Locate An Experienced Agent
  • Identify Potential Short Sales and View the Property
  • Current Market Value & Number of Liens
  • Determine if the Seller Qualifies for a Short Sale
  • Ask the Listing Agent about the “Short Sale Package”
  • Make the Offer
  • Wait to Hear from the Bank
  • The Bank Accepts or Rejects Your Offer

Sounds simple enough but there is a great deal of information you should still know.  Want the full information package?  Click here and grab yours for Free!  There are many advantages to purchasing a Short Sale:

  • Price
  • Less Competition

Contact me if you have questions and remember to grab your copy of my Free Short Sale Buyers Guide.

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