Having patience is the key to a successful short sale. Probably the most common reason for a short sale falling through is the buyer getting tired of waiting. Paragraph 3 of the short sale addendum to the offer to purchase approved by the North Carolina Association of Realtors and the NC Bar Association allows the buyer to void the contract prior to the lender's approval.
One plan of action a buyer may employ in today's market is to write an offer on a short sale property while watching the remainder of the market. If another acceptable property comes on the market, then they can void the contract on the first property and go after the second.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment