As you're looking for homes, you might be coming across short sales or foreclosure listings - I can help you understand the differences between these listings, and talk with you to figure out if they're right for you!
Short sales occur when a bank agrees to allow a seller to sell a home for less than the total debt owed on the mortgage. Banks typically only agree to this "short payoff" of the debt after they have reviewed the seller's financial history and have proof of a financial hardship. The bank's approval is not guaranteed and often can take a long time to receive, so sometimes these transactions can be long and frustrating.
Foreclosures have already gone through the auction process and are now bank-owned. The properties are sold "as-is", so buyers should exercise some caution and see what kinds of repairs might be needed since the bank will not typically make any repairs to the property.
If you're interested, let's discuss if either of these property types may make sense for you.
Let us know if you have any questions!
www.cbgold.com 907-456-4653
