Anyone shopping for a home? Then read this article
This week there was a terrific article that made it onto the news wires across the country and will be of great interest to most anyone shopping for a home. Whether you are interested in buying real estate in Ooltewah, East Brainerd, East Ridge or Hixson, TN…it doesn’t matter. Most home shoppers have heard that short sales are one way to possibly buy property below market or “get a deal.” The problem is of course how long it can take to find out if your offer to the bank will be accepted or not. This 50 to 100 plus day wait can be disheartening and frustrating. Often buyers end up moving on to something else. That is why Paul Owers of the Fort Lauderdale Sun Sentinel’s article makes for good reading as the rules may be changed soon to force banks to make decisions on short sales much sooner. You can read Paul’s article below: New rules designed to speed up short sales Financially stressed homeowners left hanging while their banks consider whether to approve the short sales of their properties may benefit from new federal guidelines that give lenders a 10-day limit in which to respond to purchase offers.