Why buy a short sale?
Well, you can save money if the deal goes through. Short sales typically are accepted at 85% to 90% of market value and when you’re buying a big ticket item like a house, that’s a lot of savings. You have to remember, though, that you are pretty much buying the house as-is because the seller is usually unwilling or unable to make repairs. Using the purchase agreement created by the Arizona Association of Realtors you have a 10-day inspection period after the bank accepts your offer to inspect the home and you have the opportunity to walk away from the purchase at that time if you so desire. You can also ask for repairs – sometimes the seller can/will do them and sometimes the answer is “No”. Why pass on buying a short sale? By far, the most painful part of the experience is the extensive wait. Buying a home is an emotional experience for 95% of the population. When you make an offer on a home being sold as a short sale, you don’t know whether you get to buy the home for at least a mont
