Business & Finance Advertising & sales & Marketing

Golf Course Homes, First Time Buyers

A Guide to Understanding Short Sales and Foreclosures
The real estate industry is always evolving. In years past, distressed properties were few and far between. Now, the phrases, short sale and foreclosure are part of the real estate vocabulary, but sometimes, consumers are not familiar with what these types of property transactions are like.
A short sale is when the bank, who holds the mortgage on the home, agrees to take less than what the seller owes on the loan. Typically, the owner is behind at least three months on the mortgage payment, but they still continue to live on the property.
A foreclosure is when the seller has not paid mortgage payments and the bank who holds the mortgage goes through a legal procedure to take over the property to satisfy the debt. The home owner moves out and the bank becomes the owner of the property.
In this real estate market, consumers are inundated with information about how to purchase distressed homes for sale. People can score amazing Knoxville real estate deals because of the short sale and foreclosed properties on the market. The purchase of distressed real estate property is not, however, for the faint of heart. These transactions are more complicated than the traditional home purchase. The key to navigating through the short sale or foreclosure transaction is to find an experienced Knoxville Realtor who can help you through the process.
Some key things to know about short sales:
Purchasing a short sale property can take months and months longer than a traditional Knoxville real estate transaction.
The lender is in the drivers seat during the short sale process. Even if the seller accepts the buyers offer, the lender is the one who has to ultimately approve the offer.
Short sale property is sold as is. Typically, in a short sale transaction differs from a traditional real estate offer and acceptance procedure where repairs, allowances, or concessions are negotiated.
If you have questions about distressed real estate property in the Knoxville area, contact Judi Starliper. She can help with all your real estate needs.
If you are looking for Knoxville real-estate market, visit us at http://www.starliper.com

SHARE
RELATED POSTS on "Business & Finance"
How To Write The Ultimate Lead Generating Capture Page
How To Write The Ultimate Lead Generating Capture Page
Postcards Marketing - A way to powerhouse marketing
Postcards Marketing - A way to powerhouse marketing
Your Business Identity - Logo Design Software Gets The Job Done
Your Business Identity - Logo Design Software Gets The Job Done
Internet Home Business - 10 Golden Tips to Help Ensure Your Online Success
Internet Home Business - 10 Golden Tips to Help Ensure Your Online Success
3 Ways to Kill Your Quality Score on Google AdWords
3 Ways to Kill Your Quality Score on Google AdWords
Temecula Web optimization - Applying Social Media to Market place Your Smallish Small business
Temecula Web optimization - Applying Social Media to Market place Your Smallish Small business
Reasons Why Lead Generation In Singapore Is Key To Financial Success
Reasons Why Lead Generation In Singapore Is Key To Financial Success
Can You Benefit From a Private Internet Marketing Coaching?
Can You Benefit From a Private Internet Marketing Coaching?
Free classifieds in California and its advantages
Free classifieds in California and its advantages
MLM Success Training - The Top 15 Power Phrases for Recruiting Business Professionals into MLM
MLM Success Training - The Top 15 Power Phrases for Recruiting Business Professionals into MLM
What Can Yoga Teach You About Success In Your MLM Business?
What Can Yoga Teach You About Success In Your MLM Business?
AdSense Earnings
AdSense Earnings
Stay at Home Mom Jobs - Why Not Make a Living Online?
Stay at Home Mom Jobs - Why Not Make a Living Online?
How To Make Money in the MyWorldPlus Business In 3 Easy Steps
How To Make Money in the MyWorldPlus Business In 3 Easy Steps
Online Copywriting Can Produce All the Excellence Between a Web Website
Online Copywriting Can Produce All the Excellence Between a Web Website
Network Marketing Business - Is it a Valid Start-Up For First Time & Veteran Entrepreneurs?
Network Marketing Business - Is it a Valid Start-Up For First Time & Veteran Entrepreneurs?
No.1 Selling Perspective for Revenue Driven Firms: Across All Industries, Revenue is King
No.1 Selling Perspective for Revenue Driven Firms: Across All Industries, Revenue is King
Choosing and Using the Right Web Host
Choosing and Using the Right Web Host
How to Create an Email Newsletter that Hooks Clients
How to Create an Email Newsletter that Hooks Clients
How to Make Money Selling Photos Online
How to Make Money Selling Photos Online

Leave Your Reply

*