San Clemente CA Real Estate: Tips for Buying a Short Sale Property
San Clemente
There has been a lot of buzz around “short sales” in the recent
A short sale offers both advantages and disadvantages for buyers as well as sellers. For the seller, credit history is seriously damaged, but not as badly as it would be by foreclosure. Sellers also walk away with no profit, which makes it difficult to purchase another home. For the buyer, the property comes at a reduced price, but it also generally comes with its fair share of problems, and there is a considerable amount of “red tape” to get through to complete the purchase.
The short sale buying process can be a confusing one, especially for a first-time short sale buyer. Check out this helpful article from BankRate.com and see 10 Steps for Short Sale Buying below:
- Identify potential short sales
- View the property
- Do your research
- Find all liens and mortgages
- Figure out the financing
- Contact the lender
- Complete the lender’s short sale application
- Assemble the proposal
- Negotiate
- Close the deal
To learn more about investing in
View all San Clemente Short Sale and Bank Owned real estate
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