Real Estate Solutions

4 Disadvantages of Buying a Short Sale in [market_city] On the face of it, buying a house on a short sale basis certainly sounds like a good deal, especially for investors. It’s often an opportunity to purchase a property at a price well under its normal appraised valuation. But before jumping in, you need to be aware of the disadvantages of buying a short sale in [market_city]. Depends on Mortgage Lender’s Approval   A short sale usually involves selling a house for less than is owed on it. A house listed as a “short sale” is still owned by an individual (unlike the case of a foreclosure). That person either makes up the difference between the owed amount and sale price or gets the lender to write it off. What this means, then, is the owner isn’t the one who approves the sale price – it’s the lender. And since the owner is attempting to get the lender to accept less than is owed on the property, the lender isn’t always very eager to accept proposed prices. You cou...

3 Warning Signs To Buying A “Lemon” Home In [market_city] You’ve found what seems like the perfect home – either for investment purposes or to move into – and you really, really want it. This is one time, though, when your head should definitely rule your heart, when intellect should over-ride emotion. You need to take the time to make sure you aren’t buying a “lemon” home in [market_city]. For one thing, sellers usually don’t disclose everything about a property they’re selling, only what they have to. So it’s up to you, the buyer, to find out everything you can, inspecting outside and inside and underneath and, well, everywhere. Below are a few warning signs you should be on the lookout for. 1. Plumbing Problems This is an important one because plumbing problems can go on for years undetected. Because these issues aren’t always immediately evident, they can cause some pretty severe and expensive-to-repair damage. A tiny leak in a water-supply line inside a wall,...