How To Buy A Home With A Short Sale
A short sale is an offer made to a lender on a property you want to purchase that is about to go on foreclosure, into an auction or even bankruptcy. The bank needs to approve the sale first because they will be losing some money so they will accept or decline your offer. In order to buy a house with a short sale you must act fast before any other offers coming in. This is because sometimes the bank takes long periods of time to evaluate your offer and then give you very little preparation time for paperwork.