Comments on: Are Short Sales Good Options for Buyers? https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/ Money Saving, Making Money, and Investment Ideas Sat, 24 Apr 2021 19:50:49 +0000 hourly 1 https://wordpress.org/?v=4.9.22 By: Derek Chamberlain https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/#comment-10254 Tue, 22 Jul 2014 18:17:45 +0000 http://www.moneyahoy.com/?p=2393#comment-10254 I always wondered if folks at the banks were selling houses to their “contacts” at reduced prices so they could then flip them for a profit. It’s strange how some seem to move ahead so quickly and others take forever to go through…

]]> By: Michelle https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/#comment-10253 Tue, 22 Jul 2014 17:43:58 +0000 http://www.moneyahoy.com/?p=2393#comment-10253 When we go look at houses, we check out short sales. I have not found one that I have been so invested in that I had to have it. I have had friends who have had difficulty waiting on the bank for a decision. But on the other hand, I have had other friends who have heard back quickly from the lender if they were approved or not and it seemed to be pretty seamless.

]]> By: Derek Chamberlain https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/#comment-10251 Tue, 22 Jul 2014 12:30:05 +0000 http://www.moneyahoy.com/?p=2393#comment-10251 Jon,

In my own experience, the short sale ended up selling for about 15% less than the “zillow” value. So, if you’re willing to take a chance, you could save quite a bit 🙂

]]> By: Jon @ Money Smart Guides https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/#comment-10247 Mon, 21 Jul 2014 22:24:13 +0000 http://www.moneyahoy.com/?p=2393#comment-10247 For me personally, a short sale is just too involved for me. I’ve bought a house the traditional way and it was enough work! But then again, I don’t know how much I could stand to save with a short sale. Maybe if I had a concrete number, it might change my mind.

]]> By: Derek Chamberlain https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/#comment-10242 Mon, 21 Jul 2014 19:52:11 +0000 http://www.moneyahoy.com/?p=2393#comment-10242 We were trying to buy a short sale a couple of years ago and ended up walking away after 5 months of zero progress… It can be really frustrating as you get no indication if things are moving along or not. The house eventually sold 5 months later for $30,000 less than what we were offering!

]]> By: Brock @CleverDude https://www.moneyahoy.com/are-short-sales-good-options-for-buyers/#comment-10241 Mon, 21 Jul 2014 12:19:21 +0000 http://www.moneyahoy.com/?p=2393#comment-10241 It can be a good deal if you’ve got the time and patience to go through with it….because as you mentioned it can take awhile to get everything complete. I had friends on the selling end once as well…turned out to be a great thing for them because they bought too big of a house and they needed to offload it and downsize to get their finances back on track. It took a Loooooong time to sell it though.

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