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  • Answer You - Fact or Fiction? Common Misconceptions in Short Sales

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    Being that these are just a few of the many choices, it is no wonder that the lines get blurred. Although I cannot answer all questions about all property investments in this one articl

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    When it comes to the world of short sales, there are three truths. One, foreclosures are at their highest rate in 30 years. Two, now is the right time to invest in them. Three, an educated investor closes the deal.

    There is no question that real estate is a hot topic throughout the country. Everyone has something to say about investing in property, but not everyone has the story straight.

    That’s not surprising.

    Today’s investing options are infinite and each one is more complex than the next. When a person decides real estate is an appropriate investment, he is then faced with a number of options: Is purchasing a rental property right for him? Should he build a house on speculation? Should he bid on a foreclosure at a sheriff’s sale when he has never even been inside the house? Should he invest in a short sale when working with a seller who does let you see the inside of the house?

    Being that these are just a few of the many choices, it is no wonder that the lines get blurred. Although I cannot answer all questions about all property investments in this one article

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    There is no question that real estate is a hot topic throughout the country. Everyone has something to say about investing in property, but not everyone has the story straight.

    That’s not surprising.

    Today’s investing options are infinite and each one is more complex than the next. When a person decides real estate is an appropriate investment, he is then faced with a number of options: Is purchasing a rental property right for him? Should he build a house on speculation? Should he bid on a foreclosure at a sheriff’s sale when he has never even been inside the house? Should he invest in a short sale when working with a seller who does let you see the inside of the house?

    Being that these are just a few of the many choices, it is no wonder that the lines get blurred. Although I cannot answer all questions about all property investments in this one articl

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    nvesting options are infinite and each one is more complex than the next. When a person decides real estate is an appropriate investment, he is then faced with a number of options: Is purchasing a rental property right for him? Should he build a house on speculation? Should he bid on a foreclosure at a sheriff’s sale when he has never even been inside the house? Should he invest in a short sale when working with a seller who does let you see the inside of the house?

    Being that these are just a few of the many choices, it is no wonder that the lines get blurred. Although I cannot answer all questions about all property investments in this one articl

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    r him? Should he build a house on speculation? Should he bid on a foreclosure at a sheriff’s sale when he has never even been inside the house? Should he invest in a short sale when working with a seller who does let you see the inside of the house?

    Being that these are just a few of the many choices, it is no wonder that the lines get blurred. Although I cannot answer all questions about all property investments in this one articl

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    see the inside of the house?

    Being that these are just a few of the many choices, it is no wonder that the lines get blurred. Although I cannot answer all questions about all property investments in this one article, I can clarify some misconceptions regarding short sales.

    While it is important to know exactly what a short sale is, it is also important to know exactly what it is not. Many of the people I speak with confuse short sales with bidding on a house on the court steps at a sheriff’s sale or auction. That is simply a foreclosure, and at that point it is too late for a short sale.

    Probably the greatest benefit of a short sale is that the foreclosure process is avoided. A short sale deal is solidified during a period called pre-foreclosure, when the owner is beginning to miss payments and before the auction. If a short sale occurs the seller avoids foreclosure, and his credit and peace of mind remain salvageable.

    Another misconception is that a short sale occurs after a foreclosed property is bought by a bank. It is normal for a bank representative, usually

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