When we talk about Short Sale properties, we are talking about properties offered by Sellers that owe more than their property is worth. Short Sale properties are most often sold "ASIS" and always require Lendor Approval. Sometime these properties have fix and flip potential, other properties the value is in the land occasionaly the property can be cleaned and painted and be ready for a renter. Just like any other real Estate Investment you make your money on the purchase, if you don't get the property at your price you stand good chance of losing out on the profits. The pitfalls in buying Short Sale properties include: 1) Paying to much for the property up front. 2) Failing to understand underlying issues in the property. 3) Under estimatng the time required to hold the property before it reaches full value. |
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