Menu

Home › Forums › Housing › Short sales

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • January 26, 2008 at 2:05 PM #11638
    kev374
    Participant

    I am noticing an increasing number of short sales on the MLS lately. Still overpriced but some are showing the first signs of decent deals. In South OC I’m consider something a good deal if it’s between $200-225/sqft.

    Question is, how does the short sale purchase process differ from a regular purchase with regard to disclosures etc. What are the key differences in terms of buyer rights?

    Thanks

    January 26, 2008 at 2:59 PM #143177
    SD Realtor
    Participant

    You have all the same rights as with any resale. Short sales are great opportunities for buyers, however you MUST have patience. You get a chance to save money, the only difference between a short sale and a sale that is not short is that the the lender has to approve the sale ALONG with the seller.

    If you do not have patience, then don’t do it.

    SD Realtor

    -Note I have not given you the long diatribe of why it takes so long and the requirements for the seller. Again, from a buyers standpoint you have all the same rights. It doesn’t mean the seller or lender will agree to accept your requests though.

    January 26, 2008 at 2:59 PM #143413
    SD Realtor
    Participant

    You have all the same rights as with any resale. Short sales are great opportunities for buyers, however you MUST have patience. You get a chance to save money, the only difference between a short sale and a sale that is not short is that the the lender has to approve the sale ALONG with the seller.

    If you do not have patience, then don’t do it.

    SD Realtor

    -Note I have not given you the long diatribe of why it takes so long and the requirements for the seller. Again, from a buyers standpoint you have all the same rights. It doesn’t mean the seller or lender will agree to accept your requests though.

    January 26, 2008 at 2:59 PM #143422
    SD Realtor
    Participant

    You have all the same rights as with any resale. Short sales are great opportunities for buyers, however you MUST have patience. You get a chance to save money, the only difference between a short sale and a sale that is not short is that the the lender has to approve the sale ALONG with the seller.

    If you do not have patience, then don’t do it.

    SD Realtor

    -Note I have not given you the long diatribe of why it takes so long and the requirements for the seller. Again, from a buyers standpoint you have all the same rights. It doesn’t mean the seller or lender will agree to accept your requests though.

    January 26, 2008 at 2:59 PM #143447
    SD Realtor
    Participant

    You have all the same rights as with any resale. Short sales are great opportunities for buyers, however you MUST have patience. You get a chance to save money, the only difference between a short sale and a sale that is not short is that the the lender has to approve the sale ALONG with the seller.

    If you do not have patience, then don’t do it.

    SD Realtor

    -Note I have not given you the long diatribe of why it takes so long and the requirements for the seller. Again, from a buyers standpoint you have all the same rights. It doesn’t mean the seller or lender will agree to accept your requests though.

    January 26, 2008 at 2:59 PM #143515
    SD Realtor
    Participant

    You have all the same rights as with any resale. Short sales are great opportunities for buyers, however you MUST have patience. You get a chance to save money, the only difference between a short sale and a sale that is not short is that the the lender has to approve the sale ALONG with the seller.

    If you do not have patience, then don’t do it.

    SD Realtor

    -Note I have not given you the long diatribe of why it takes so long and the requirements for the seller. Again, from a buyers standpoint you have all the same rights. It doesn’t mean the seller or lender will agree to accept your requests though.

  • Author
    Posts
Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.