How Can I Find Short Sales Near Me?

A short sale happens when a property owner falls back on mortgage payments due to financial distress. As a result, the home ends up being sold for less than is owed on the existing mortgage. In this way, both mortgage lenders and property owners can avoid the long and costly foreclosure process.

Before we take a look at the ways of how to find short sales, you should know exactly what you’re getting into with this type of real estate investment. Here is a brief overview of the pros and cons of buying short sale properties.

When looking for short sale homes in the MLS, you need to be proactive in order to stay ahead of the competition. Besides looking for the term ‘short sale’ in the listings, you should also check for terms such as:

‘Third-party review required’ at times means that the relevant paperwork has not been submitted to the lender for approval.

Here are the qualities to look for in a good real estate agent:

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