To many people, the idea behind a short sale sounds like a long and impossible task to get done. Well, there is not much to it if you are willing to go the distance. Tons of home buyers have opted to do this and have been rewarded with home savings that are up in the thousands. For those of you that have no idea what a short sale is I will explain.

A short sale is the transaction of the sale of a home whereby the lender sells the house at a price lower than the amount owed by the owner. Lenders tend to negotiate in these types of deals to avoid taking a huge loss on the money they let the owner borrow. Many investors and home buyers have profited off of this investment because the buyer has a chance to get a home lower then what the house is worth. By negotiating and settling with the lender at a price you both agree upon, it gives you more than enough reason to give it a shot.

There are many rewards behind the process of a short sale. If you think about it, it can be rewarding to all parties involved. In short sale real estate, the lender is spared from taking a huge loss by receiving a good portion of the money they lent to the original owner. The person that is on the verge of foreclosure is helped by being exonerated of his/her debt and is able to avoid being locked down in foreclosure. Then the buyer is rewarded with a home for a negotiated price that is well below its value. In the end, all parties get to walk away with some relief whether it's a great deal or it's getting out of a loss.

There are many steps in this type of deal but the possible profits from it are great. With the proper research and steps, such as finding the home, discussing this opportunity with both the homeowner and lender, appraising and researching the home, filling out necessary hardship letters and HUD-1 statement, and then finally agreeing to a suitable price are all steps in getting the deal done. I will admit that it does sound like a long process. Closing a short sale for the first time may take some time but the rewarding profit is the best in the business, so it might be well worth it.

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