pros and cons of short sale

But a short sale seller must sell. Plus, the short sale bank has already approved the short sale. If the bank wants to close the transaction, and at this point most banks do, the bank will lower the sales price to match the buyer’s appraisal. Because the next buyer, if the bank were to say no, is likely to get the same or similar appraisal.

Pros and Cons of Each – Blog – – Transaction Time – Short Sale Con, Foreclosure Pro The short sale purchase process is typically much longer than the process when purchasing a foreclosed home. Whereas buying a foreclosed home can fall into normal timelines of one to two months, buying a short sell house can drag on for much longer, sometimes taking upwards of six months.

What Are The Cons To Buying A Short Sale? | – A: The cons to purchasing a home on a short sale are what you see is what you get. You do not know about the condition of the mechanics of the house (plumbing, heating, cooling and electrical) and.

Pros and Cons of Buying a Short Sale Property – Acuity. – Pros of Buying a Short Sale Home (Potential) Good Deal: As mentioned above, purchasing a short sale home could potentially get you a great deal. This usually happens when the bank and homeowner are looking to find a buyer for the short sale immediately, so they will list the home at a low price that will attract more buyers.

Pros and Cons of For Sale by Owner: What Are Your Options? –  · Pros and Cons of FSBO: Your Money. They found that homes sold by a real estate agent reaped 5.9-7.7 percent less than homes sold without agents. The case study asserts, “The use of a broker does not significantly affect either the average initial asking price or.

typical mortgage insurance cost Factor in these fees if you’re considering a reverse mortgage – Third-party closing costs: Expect to pay typical mortgage fees for loan recording, credit checks, title insurance and so on. Ask to see a detailed breakdown of each fee, which should be included in.

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Pros & Cons of short sale purchase Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Weighing The Pros And Cons Of A Short Sale – Pros and Cons of a Short Sale. There is a government program in effect right now called the mortgage forgiveness debt relief act which provides tax relief for owners who sell their principal residences through a short sale, and receive the benefit of the discharge of a portion of their mortgage debt.