Short Sales - Short Sales as a Bargain
Posted under: Foreclosure in Wellington
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March 31, 2010 8:49 PM |
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Is a Short Sale a Bargain?
There are three types of Sellers in the current Real Estate market with Short Sales and Foreclosed (Bank Owned) properties making up the bulk of properties offered for sale. www.mypbchomes.com
· Regular sales; are often the higher priced properties with the sellers being limited their mortgage(s), even those with low or no mortgages are expecting to net an amount that they are unwilling to go below. www.mypbchomes.com
· Short Sales (Pre-foreclosure); are often priced below market as it takes an offer of contract to commence a Short Sale therefore the seller will present an accept an offer without bias putting the burden on the Lender(s) who would consider the offer if it is reasonable and is backed up by a BPO (Brokers Price Opinion).
There are three types of Sellers in the current Real Estate market with Short Sales and Foreclosed (Bank Owned) properties making up the bulk of properties offered for sale. www.mypbchomes.com
· Regular sales; are often the higher priced properties with the sellers being limited their mortgage(s), even those with low or no mortgages are expecting to net an amount that they are unwilling to go below. www.mypbchomes.com
· Short Sales (Pre-foreclosure); are often priced below market as it takes an offer of contract to commence a Short Sale therefore the seller will present an accept an offer without bias putting the burden on the Lender(s) who would consider the offer if it is reasonable and is backed up by a BPO (Brokers Price Opinion).
www.mypbchomes.com
· Foreclosure (Bank Owned); these are often a great value that is equal to or better than a short sale, however often times these properties, being neglected for some time can be in distressed condition or can be fixed up by the Lender to be in great condition.
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