Short Sales Are Hugely Profitable If You Know What You’re Doing

I think we can all agree, the real estate market is in a real state of flux right now. The volatility that the housing sector is experiencing need not be cause for too much concern, that is to say if you are a savvy real estate professional, or real estate investor. No, quite the contrary, the real estate market is ripe with great opportunity if one knows how to exploit the great potential for profit that exists in real estate today.
One of those opportunities is the acquisition of properties via the short sale method. This is a transaction wherein the bank agrees to accept less than that which they are owed to allow the sale to complete.
While the Seller can not receive any proceeds of the sale, they are allowed Real Estate Marketing Strategies 2019 to move forward in life without a foreclosure blemish on their credit file.
They are relieved of their mortgage obligation, the real estate agent earns a commission and the buyer or investor, if they have done their homework correctly, have purchased a property at a value that is a great deal for them.
Everything sounds good doesn’t it? However, short sales are never that easy. They are also somewhat time consuming. A typical Best Things About Owning A Home transaction may take months to complete. It’s for this reason that most real estate agents hate working on short sales.
So if you are going to get involved in a short sale you need to make sure that the agent you are working with knows what they are doing or you’re in for problems. It’s not uncommon for an incompetent real estate agent to take the listing on a property in foreclosure without having any prior knowledge of how to actually complete a short sale.
After all, if it fails it’s no skin off of the agent’s back but if it succeeds it’s like found money for them.
Homeowners need to make sure that the agent you enlist to assist you has proven knowledge and can demonstrate competent expertise and experience in short sale transaction or you could be in big trouble.
Buyers who are interested in purchasing a property via the short sale method need to perform the same vetting process or risk sitting on a deal for months with no action only to find out that the bank never received a package and the property was auctioned off at the Courthouse.
Short sales can be absolute life savers for distressed homeowners or dreadful nightmares if performed incorrectly. From an Investor’s perspective, short sales can be hugely profitable but they must be managed by seasoned professionals.
If you’d like information as to how to do a short sale the correct way or if you’d like to make sure you have a real understanding of the short sale process, I urge you to spend some time researching the architecture of a short sale transaction so that you can be prepared.

READ  Marketing Plans for Commercial Real Estate Office Sales or Leasing