Every now and then a good deal will come along. Many people hear the words "short sale" and automatically think of a seller that is insolvent and needs to sell their house quickly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In cases such as these the discounted price may in fact be consistent with true market values, not below.
What's involved in buying a short sale?
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