What is a short sale?
A short sale is real property is being sold for less than the balance owed to the bank.
I have heard they are rarely successful, if ever.
NOT TRUE ANYMORE. While this may have been true in the past, today banks are more willing to work with sellers who are forced to sell short. Working with a Realtor who is an expert in short sales will go a long way in making your short sale experience a success.
Choosing your Cousin who works part time in real estate to represent you may be cost you money.
Buying a short sale property can be a quick way to earn real equity. When buying or selling a home which is being sold short, it is important the Realtor you work with understands the entire process. Short sales can be a very complicated process and will require someone with the experience and understanding of banking policies to be successfully navigated.
I know short sales.
I have personally taken part in the purchase or sale of millions of dollars of real property through the foreclosure or short sale process. I understand the banking policies and tables and have been certified by the National Association of Realtors to conduct these types of transactions.