Short sale listings offer prospective buyers the opportunity to participate in a transaction that can have very favorable economic terms. Often the property owner has fallen behind on payments and the loan amount is higher than the current market value of the property. A Short Sale is basically when the property owner sells their property for what is less than is owed to the bank. The property owner’s lender essentially lower the amount owed to allow the short sale to happen.
Buyers need extreme patience as short sale transactions generally takes a bit longer than normal transactions. This is because the property owner’s lender has to approve the offer price and it may take weeks for this to happen.
Is it worth the wait?
The reward is usually worth the wait, as short sale prices are often below market value. Like any other real estate transaction, it is best to contact me so that I can do a market analysis of the property.
If you see a property that catches your eye, please contact us immediately as the best deals tend to attract offers very quickly. You can call or text me at (910) 467-3602. email me at email@example.com or visit my website at AllHomesForSaleJacksonvilleNC.com.