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Considering A Short Sale Purchase
Dated: June 1 2014
A short-sale is rarely ever short. Sure, there are stories of homes closing within 30-45 days but those are few and far between.
The key to managing a short-sale purchase is to be patient. Even after a contract has been written on the home you are going to purchase, the seller’s lender(s) have to approve this sale. This can take anywhere from two months to two years depending on the number of lenders involved. However, if you have the time to wait, you can still find a good deal in a short-sale. But always work with a qualified real estate agent who is familiar with the process of short-sales and foreclosures as well as an experienced real estate attorney to ensure the process is made as seamless as possible.
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