Seattle Foreclosures and Short Sales---Steal this Property?

In almost every price range and almost every community there are properties on the verge, in the process of, or being sold as foreclosures. There are clues to watch for other than being listed as such...the contractor keybox for example.

As long as this cycle continues, property values will be held down and unless you believe the sky is falling, the strife and the deals will not last indefinitely. From a buyer perspective, especially when you couple these prices with the current mortgage interest rates this will be remembered as another classic "I coulda..." time.

In either case you are generally dealing with a seller without much to lose. Whether it's the person representing the bank's interest or the seller in enough trouble to qualify for a short sale (along with their lienholders), they generally will come to the table with less motivation than a conventional seller. The rules therefore are very different oftentimes and protecting clients' interests becomes a job not for the weak hearted, less knowledgeable or less diligent broker.

Greater potential gain often entails greater risk but one can come to the party equipped.

Date: Saturday, November, 19th 2011 @ 07:27:35 PM
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