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How to buy a short sale home?

April 26, 2017buy Home sale short

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How to buy a short sale home?

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Buying a short sale home can be a long, drawn-out process. It may be a worthwhile endeavor for an investor who will buy many houses and is not emotionally invested in any of them, but for a home owner, it can be an exercise in frustration! A short sale home is one where the bank needs to agree to take less money than they are owed on a mortgage. You do need the owner of the house sign off on the offer, but the bank has the last say as to how much they are going to accept. The process can take up to 9 months or longer, and many times the banks never respond to offers.