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Want to buy a short sale?
When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale.
Are short sales bargains?
Occasionally. Often times people hear the words "short sale" and automatically think of a seller that is in trouble and needs to sell their property promptly to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these instances the discounted price may in fact be in line with current market values, not below.
What's involved in buying a short sale?
If you are ready to buy, whether it be a short sale or a typical home sale,
Excel Funding Real Estate Services, Inc. can help you. Utilize my experience and knowledge of real estate to make sure that you are getting a fair deal and protect yourself during the whole deal.