Are You Considering Purchasing A Home That Is A Short-Sale/Or A Foreclosure?? Here Are A Few Things You MUST, MUST,  MUST  Know. These Are Not Your Typical Real Estate Purchases! First Of All The Majority Of These Properties Will Require More Than Just A Few Repairs & Most Of The Time, Sellers Will Not Complete Any Repairs Or Allow You To Complete Repairs-Not Before Closing. So Many Of The Types Of Financing That Require $0 Down Or A Low Down Payment Can’t Be Used For This Type Of Purchase. You May Want To Check Out FHA 203 K Financing, A Conventional Loan With No Contingencies,  Or Pay Cash. If You Are Getting A Loan, Then Come To Your Realtor PREPARED & This Means Armed With Your Loan Approval Letter, Not A Prequalified Letter-A Big Differance Between The Two!!  Now We Are Ready To Move Forward-Again I Stress This Is Not Your Typical Real Estate Transaction! Usually MORE Days Are required Before We Will Know If Sellers Will Accept Your offer-Sometimes This May Take 3-5 Days Or longer. It Can Be Much Longer Possibly Months. Remember When You Make That offer, There Are Limited Properties Available Out There So Chances Are There Will Be Others Buyers Coming On Board Too. Always Make Your Best Or very Near Best Offers
Early On To Hopefully Get Your Offer Approved Before More Buyers Submit Offers Too. Just Know You Are Not ” UNDER CONTRACT” Until Seller Has Executed Your Contract In Writing. After This Happens In The REO World, Things Start Moving So Fast-Because All Of Pre-Approval etc Has Already Been Done, (Remember Sellers Will Not Even Look At Your Offer Nor Were We Allowed To Submit It Without The PRE-APPROVAL LETTER OR PROOF OF FUNDS) That CLOSING DATE Is Here Before You Know It!!!   
Foreclosures Can Be A Great Purchase For You Next Home Or Investment-JUST BE PREPARED- Or If You Are Not From The Moment You Send In An Offer  Then Chances Are You Already Missed Out. Don’t Be An Unprepared Buyer. We Want You To Get The HOME You Desire  & Happy HOME Shopping!!!!!