My mom and dad were thinking about buying a new house and I told them that they should go and get something smaller, they started to look with a real estate agent and they noticed that the price of homes was really starting to go up in the area that they were looking to buy. They found a red deer mls that was actually a short sale and then they called and asked me if they were looking at a short sale, if it was a good idea or not. I did not think that it was a good idea for them to count it out as these could be really good deals. The thing about a short sale is that you are buying the house as is, as it is a foreclosure or a place where a person could no longer afford to buy a house and they had to leave.
Most of the people that they talked to said that they were going to actually tell them to go for it. My parents own their house, they have no mortgage so it is not like they are going to be hurting for money when they have to buy their house. They can sell their house in their own time because when you go and put a bid on a house that is a short sale it takes a while for the bank to mull over your offer. Some banks have so many short sale homes on their books that it can take a long time for someone that has to go over the deal to finally read it. I am thinking that since there are so many good deals in this area, that it would be good for me to look and find a short sale for my family.
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