Author Topic: Short Sales?  (Read 1184 times)

OneCoolCat

  • Bristles
  • ***
  • Posts: 439
  • Age: 32
  • Location: SoFla
Short Sales?
« on: February 19, 2015, 08:41:20 PM »
Anyone have success stories of getting a bargain investment property from a short sale?  I'm interested in a property being marketed as a short sale but I know its very unlikely I will actually end up with it because i'm only planning on putting 20% down and I don't know the title status of the property. 

PseudoStache

  • Stubble
  • **
  • Posts: 179
Re: Short Sales?
« Reply #1 on: February 19, 2015, 10:29:39 PM »
If it's close to a move-in ready property, lenders on homes in Orlando, do not seem to be discounting Short Sales.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28249
  • Age: -999
  • Location: Seattle, WA
Re: Short Sales?
« Reply #2 on: February 21, 2015, 08:55:40 AM »
Anyone have success stories of getting a bargain investment property from a short sale?  I'm interested in a property being marketed as a short sale but I know its very unlikely I will actually end up with it because i'm only planning on putting 20% down and I don't know the title status of the property. 

Yes.

A short sale should still go through closing and get a clean title.

It's not too dissimilar to a regular REO sale, it just takes longer and has more paperwork, but the process is much the same - you'll still get to do inspections, etc.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.