Thanks to the housing crisis of the last decade, most consumers and investors are familiar with real estate terms like “foreclosure” and ”subprime” even if they don’t fully understand them. But one term that might not be as familiar is “short sale.” Yet short sales provide a good opportunity for novice real estate investors to buy real estate below the current market value.
So, what are the advantages of buying a short sale for an investor?
A better price. The primary advantage is a better price. Short sales are often priced below the market, so a buyer can get a property for less than it would be worth if it were a traditional sale.
The lender may be more anxious to negotiate a lower sales price in lieu of moving forward with a costly foreclosure.
Less competition. Considering a short sale purchase can also mean less competition. Investors who only concentrate on foreclosures—rather than pre-foreclosures—miss the short sale opportunity. In areas where housing inventory is in short supply, investors can take advantage of the short sales available inventory in our firm.
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