Are Short Sales A Good Buy For Real Estate Investors?

Are Short Sales Good Buys For Real Estate Investors?

Richmond Metro Henrico Chesterfield Hanover New Kent VA Real Estate Investers

Well… that depends…

I don’t think I’ve ever asked my CPA a financial question without receiving that response!

Short sales for investors evokes the same response from me: Well… that depends…

The government and the banks have tried to streamline the process, but it still takes more than 6 months for a short sale transaction to reaching a closing table. How many other opportunities were missed while the investor waits to find out if their offer will be accepted?

Many investors think that they can buy short sales at significant discounts that are higher than those found in other properties for sale. But although the seller will accept a lowball offer to stop or delay the foreclosure process, the third party that has to approve the short sale won’t. An investor can’t practically expect a discount of more than 20% off of current fair market value on a short sale.

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