Buyer Information on Short Sales
When looking into purchasing a house listed for sale in the Utah real estate market as a short sale, the buyer needs to keep in mind that the process requires patience as it may last several months. While in an ordinary transaction, the seller agrees to sell the house and the buyer arranges financing, in a short sale proceeding, the seller's lender has to agree to the purchase contract terms before the transaction is complete. This impedes the transaction. The short sale buyers are also running a risk of losing the house to foreclosure. Should the lender decide to foreclose the property and decline the short sale, the buyer will have to look for a different house. However, if the buyer is purchasing with cash, she can bid for the house during the Trustee Sale and obtain the house. The prize for the patient and perseverant buyers, along with the house, is the low price which they paid for the house when the lender approves the short sale. Thus, if one is not in a hurry, purchasing a house listed as a short sale is a great idea!
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20 Feb, 5:06 pm
Lenders paying borrowers to do short sales t.co/bWPMIXsj I did one a borrower walked away with 18,000 in cash....read more
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17 Feb, 2:34 am
How many Mountain Goats can you see in this picture??? t.co/odMHfqNT...read more
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17 Feb, 2:33 am
How many Mountain Goats can you see in this picture???...read more
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16 Feb, 5:08 pm
Here at Mountain Luxury we Love #shortsales We do a great job and keep the sellers interests in mind! #realestate...read more
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16 Feb, 2:23 am
t.co/0Kmee2Nv Gorgeous home located in Monastery Cove in Huntsville, #utah. Wide open spaces and luxury combined! #realestate...read more
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15 Feb, 8:40 pm
t.co/oCfsCput New #shortsale in South Ogden. Great executive home on the east bench! Must see. #realestate...read more
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15 Feb, 5:42 pm
jjj...read more
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15 Feb, 5:00 pm
We need some #snow here in #utah!...read more