short sale in real estate
Is the market overcrowded with short-sale real estate agents?
I am being approached all the time by Nouveau Riche representatives wanting me to partner for the short-sale market they say is just exploding. I can see the value, but I don’t understand the risks. Specifically, how difficult is it to find the distressed homeowner, bank, and investor willing to go through with the deal? I appreciate a response from someone “in the know” who’s willing to straight-talk this one.
Don’t buy a house only because there is a short sale involved or because it is a foreclosed property- buy the house you find that is the best house for the money! Even if you are only buying a rent house- only buy because the house seems to get you a very good cash flow.
I have been in real estate sales for 31 years and there is always a scheme for con men to entice people apart from their money.
A short sale may be involved in the purchase of the property you find—or it may not. It is foolish to think that is the only way to get a good deal.
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