Buying a short sale!
Buying a short sale can be a great thing. For those who are willing to wait. If you are a First Time Home Buyer and want to close by December 1st 2009 that time has probably past for you to put in a short sale offer and close by that date to earn your IRS $8,000 first time home buyer tax credit.
A short sale can take longer due to the fact that Banks are the ones you are working with to figure out how much of a loss they are willing to take on a home “THEY OWN.” The homeowner is already not getting any money at the closing table so they don’t care how much the home sells for but the bank which stands to lose is the one that does care.
When buying a short just be ready to wait and then wait some more and things can really work out.
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