Tagged : pitfalls of buying a short sale 
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Buyers, Beware of Short Sales!
Thursday, July 9th, 2009 at 6:52pm. 740 Views, 2 Comments.
Just a quick reminder to all of you buyers out there trying to get a steal on the next short sale deal in Charleston. A lot of the time, there are wonderful deals (read in: steals) that can be made when purchasing real estate via short sales in Charleston. Most of the buyers I’ve encountered fully understand that a short sale is basically a seller that is behind on mortgage payments. They can be 2 months behind, or 7 or more months behind in their monthly mortgage payments. A short sale is when a seller is trying to get the bank to accept a loss on the property, or for the bank to accept a contract for an amount that is less than what the seller owes on the note. The seller basically owes more than the property is worth, or is in financial trouble and…
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