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Short sales and Foreclosures

We can answer the top 25 questions asked by buyers and sellers:

  1. What is the difference between a short sale and a foreclosure?
  2. I want to get a good deal! - How low of an offer can I make on a short sale house?
  3. How low of an offer can I make on a foreclosure?
  4. What is the process of getting a foreclosed house and how long does it take?
  5. What is the process of getting a short sale house and how long does it take?
  6. What is a HUD home?
  7. Will the seller do any repairs to the short sale or foreclosure?
  8. Can I get an inspection? What if I don’t like the inspection results? Can I get out of the contract?
  9. How much should I expect to do in repairs on a short sale house? What about a foreclosure?
  10. Do foreclosures need more work than short sale houses?
  11. What does it mean when something says “distressed property?”
  12. How good of a deal can I get on a foreclosure – 10% less than market value? 20? 30?
  13. How do I buy a foreclosure at an auction?
  14. Can I get a normal loan on a short sale house? What about a foreclosure?
  15. How much money do I need for an earnest money deposit for a short sale? Foreclosure?
  16. How much money do I need for a down payment for a short sale? Foreclosure?
  17. Is any body still living in the property if it’s a foreclosure? Short sale?
  18. What if the house that I have an accepted short sale offer on goes into bankruptcy or foreclosure? Do I get my earnest money back?
  19. What is the seller’s motivation for the short sale to go through – what do they get out of it?
  20. When making offers on short sales and foreclosures, do sellers get their feelings hurt if you go in too low?
  21. How common is it to see a house in short sale status or foreclosure in this area?
  22. When should a seller do a short sale, and when should they do foreclosure, and when should they do deed-in-lieu of foreclosure?
  23. Does a seller have to pay the difference in the sales price and the loan owed back to the bank if it is a short sale?
  24. What if the house is being rented out to tenants? What are their rights to stay under their lease?
  25. Can I find out how much a seller still owes the bank on a short sale? Is that public record?

If you are interested in learning more about short sales and foreclosures in Louisville, Southern Indiana, Northern Kentucky, or Cincinnati give us a call at (502) 265-5818!

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