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Confused about Short Sales, REO's, Foreclosure's, HUD homes and Auctions? Each of these have benefit's and drawback's depending on your individual goals and situation's.
The plus of a Short Sale is that the property is usually occupied and in good condition. Disclosures are provided. The drawback of a Short Sale is that they can be very lengthy waiting for an approval from the owner's lender and if there is a first and second mortgage then it will additional time. This amount of time can vary anywhere from 3 weeks to 6 month's. In the end the bank may not accept your offer even at full price and you will have to start the process again.

REO's, Foreclosure's HUD's and Auction's can sometimes be bought for less and the response time can be quicker. The drawback for these can be no disclosures, sometimes no time given for inspections and problems with a clean title. Often times the properties are listed extremely low to create a bidding war.

Right now is the best time to buy. Prices and interest rates are at all time lows. You have many choices when selecting a REALTOR®. I appreciate your consideration.