In these hard economic times, investors are asking if short sales all they’re cracked up to be? The answer, “could be”. But, statistics show that as few as 10 percent of all attempts to buy homes destined for a short sale actually go to closing in some local markets.
A far better use of an investors time and energy may be to avoid the often long and complicated process of buying a short sale from a distressed home owner and pursue properties owned by banks and other lenders that they’ve held for awhile.
One thing to consider is that the short sale can take forever and involve huge amounts of time as an investor. The documentation and negotiations involved may not be worth the relatively modest price discount the investor ultimately receives.
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