利用者:YoSheldon2239

If you are in the market for a new home, getting a great bargain should be the first thing on your mind. One of the ways you can do it is by understanding how to look at short sale listings and how to buy them. This is another option if you are looking into foreclosed, preforeclosed or similar properties.

Short sale listings are for homes that are in preforeclosure (meaning that the current mortgage holders are three or more payments behind). At this point, you can step in and offer to pay the full or a lesser amount of the loan with the consent of the homeowners and the bank.

Let us say the homeowner owes the bank $50,000 and you offer $35,000 as a payment for the outstanding loan. Both the homeowner and lender accept this. Banks do this to prevent a loss (instead of losing $50,000, they lose $15,000) and you find yourself with a home worth more than you paid.

Contracts and Communication

At this point you may feel like you are taking advantage of someone who is in already in financial trouble. But homeowners who have agreed to join short sale listings are looking for a better option and so are the banks. By going through a short sale, the homeowner can potentially recoup losses and so can the bank. Most short sale listings get you directly in touch with the homeowner or the bank, or a representative realtor who can handle the sale for you. It is legitimate business practice that helps the homeowner and the bank.

By requesting a short sales packet from the homeowner-and doing your research, you can potentially save thousands of dollars by buying the home before it enters foreclosure. The homeowner will then submit a hardship letter to the lender detailing their situation (essentially proving that they are broke or in default). Once the ball gets rolling, a HUD-1 settlement will be drawn up between you and the homeowner. This is basically the contract that details the amount of funds that will be exchanged and the costs that you will incur.

The Pros of Short Sales

These types of listings avoid the pitfalls of buying foreclosed property because a) it is likely that the homes are still in good condition and b) it prevents the home or property for going on the open market. Inspecting the home is needed, since it may need repairs that the homeowner or lender may neglect t mention, which can affect the market price. It is also important to be realistic-rock-bottom prices are rare, especially if the home is in good condition despite the default.

You may also want to go through auctions, websites and realtors in your area who have knowledge of the short sale listings in order to get the best deal. Buying a short sale home can be a viable option, especially if you are in the market for a first-time home. It can also help you avoid the pitfalls of a mortgage (many consider it as a complete down payment) and help you live a life without debt. 住宅ローン 任意売却