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Top 10 Things to Know About Short Sales


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Buyer Beware
Having a qualified home inspector examine the property will ensure that you know exactly what you're getting.
Having a qualified home inspector examine the property will ensure that you know exactly what you're getting.
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Just like with foreclosures, many short sale properties are in need of repair -- sometimes extensive repair. Since the homeowner is experiencing financial hardship, chances are that maintaining the home wasn't high on the priority list. If you're considering purchasing a short sale, check out the property firsthand and hire an inspector you trust to look it over thoroughly. Many short sales are listed "as-is," so you can't ask the seller to repair any damage. In this case, you should factor in the cost of repairs when you're budgeting before you buy the property. It may still be a deal, but you need to know what you're getting into.


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