Monday, June 07, 2010

A Buyer's Quick Guide to Short Sales - Part 1

Preapproval
- Get Preapproved so you know how much you can afford and how much you feel comfortable paying for a house. This helps make sure that you are looking at the right houses and your agent can be sending you the right properties. When you see the right property you will be ready to make an offer.

- You will need to have a preapproval letter to submit with a short sale offer as the Seller and Short sale lender will want a copy in their file to verify that you are qualified. This can also help your offer look stronger should you be competing in a multiple offer situation.

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