Looking to buy a short sale or foreclosure? Wondering how to avoid the pitfalls, or what strategies to employ? The National Association of Realtors is reporting that nearly a third of overall housing sales were distress sales, but the impact in Tampa has far exceeded national averages. Short sales can be fraught with uncertainties and extended delays that cause real headships if a buyer is on a fixed time schedule. Bank owned foreclosures (REOs) often see bidding wars and multiple offers from cash buyers looking to capitalize on below market asking prices. And all distressed properties require extensive inspections and potential repairs. An article in today’s Wall Street Journal examines these questions and offers some guidance that applies to Tampa home buyers. Read full WSJ article.
As Certified Distressed property Experts (CDPEs), Team Bohannon has special training, systems and strategies to help you through this process. For more info on short sales, see: http://bohannon.realty-buzz.com/short-sale-basics/
