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Archive for May 7th, 2009
Must know facts about buying a Colorado Springs short sale
Colorado Springs Short Sale Buyers need to know facts
Related post: Buying a short sale vs. a foreclosure, what’s the difference? and 5 things to know about buying a short sale
For a FREE List of Foreclosures and Short Sales email Kathy Torline at KTorline@msn.com
Good Deals: YES, this is a good opportunity for the buyers. NO, this is NOT a foreclosure!
Offers for a Short Sales YES, you can make offers on what you think it is fair market price, but NO, you can not 
buy 50 cents on a dollar of what the owner pay for, unless the owner overpaid and/or the market has dropped 50%. Lenders will not approve a short sale below fair market value. Buyers, if you are planning to buy a Short Sale property, please manage your expectation.
Time Frame For a Short Sales: YES, you have to be patient, as part of the process. The Short Sales sellers have to submit a Short Sales Hardship package, and both buyers and sellers will have to wait. NO, you cannot expect bank to get things done faster; they work on their own timetable.
In the case of Short Sales, the Buyer has to wait Read the rest of this entry »
