Step 2: Let's discuss the process involved with a short sale, REO's and a regular purchase.
Step 3: Finally, let's review your timetable on purchasing a home... that could have an impact on your decision.
There are a lot of great properties out there, and a lot of great prices, not to mention low mortgage rates. I agree with the advice regarding short sales. Any offer made on a short sale needs the sellers' approval, then also their bank's approval. Even if the seller accepts your offer, their bank might not and you will have waited many months to find out that your offer isn't accepted. Foreclosures are easier and quicker to purchase, and there are so many homes for sale right now that you could avoid making an offer on a short sale if you chose to. Again, I'd like to talk to you about preapproval and any other questions you may have. I lend on Homepath Mortgage homes.
Give me a call and I'd be happy to explain this further.
HUD.gov is one, but a RealtorÂ® can provide you with a broader list of properties.
I'm a RealtorÂ® and I can assist you if you'd like.
Feel free to contact me:
Keller Williams Realty Partners
One thing to make sure of is that your credit does not exceed your actual costs. You're only allowed credits towards closing costs and pre-paid items and anything else will be lost.
I would check with your lender first to get a better idea of what your closing costs are so you don't leave any money "on the table".
If you would like me to explain this further please call me at 630-730-4934
Questions or concerns please call met anytime at 630.637.9009.
Hope to hear from you soon.
Are you working with a local agent or Realtor? If not, please get pre-approved first, and then contact one. I suspect several local agents will repsond to your question right here on Trulia.com. Best of luck.