As I said in the previous sections of the Short Sale Series, these sale types are a great buying opportunity, but require time and patience.

The seller of a short sale is typically in a more distressed situation.  My job is to help alleviate the stress of selling their home.  Although there are no proceeds going to the seller, the seller must be proactive in the sale as well which also requires time and patience.

The seller is attempting to make good on their debt and find a solution for them and the lender.  Due to some circumstance, possibly loss of income, disability, forced relocation, death of a loved one, not having the ability to pay their bills weighs heavily on the sellers.

I have heard comments from people stating that "these people" should not have bought homes that they could not comment to that is, they are very ignorant.  ALL sellers that I have worked for have had some hugely unexpected change in their life that forced them to relocate.  Having to pay for two households is tough for some and impossible for others.  Couple that with a depressed real estate market and you have a home you cannot afford or sell.  They can only hang on so long and most sellers exhaust every penny, credit card and savings they have in order to pay their mortgage.

To "those people" that say they should have not have bought homes they cannot afford need to realize that now prime mortgages have caught up to the sub-prime mortgages in default. A PRIME MORTGAGE, meaning these were people that were credit worthy, had verified income, job and resources to pay their mortgage when they bought it.

When buying a short sale remember that the seller is most likely as committed as you are in seeing this transaction through.

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