It dawned on me recently that most young couples don’t have the patience it takes to buy a short sale. It’s like waiting for that guy or girl you really want to be with but never seems pan out. Can it happen???
Of course, technically, it can. And for those special people who’ve got the heart to wait, it sometimes can. When it does, just like in love, you’ll be tickled pink to know the wait was worth it. It’s a lesson in patience and not everyone has the luxury of waiting. Expectations have to be set early. Buying a house isn’t like buying a pack of gum. You don’t just walk in and throw it in your cart on your way out of the store. It takes compromise. It takes knowing what you can’t live without and what isn’t that big a deal. It takes some research and a keen knowledge of the numbers behind what your eyes see.
Don’t get lulled– know the numbers and know your limits before you start. When dealing with a short know that it could take months, a year or more to sit and wait for simple answers from the bank. So, be ready for a long slog, but going in with that mentality will help you persevere and get the short sale you want.
If this all sounds too dragged out and annoying, then the short sale route may not be for you, but knowing that might be all the difference. Happy hunting.