Many people are seeing a Charlotte Foreclosure for a great discount on a new Charlotte Home. The unfortunate reality is that many of these homes are in need of more work than anticipated. An alternative is a Short Sale; or is it?
A short sale occurs when the owner is already behind on payments and the bank has begun the foreclosure process. The largest problem with a Short Sale is that it takes a long, long time just to get an answer from the lender. How long is a long time?
I have seen buyers wait for 10 months and finally walk away since the lender did not make a decision. That buyer placed his/her financial situation on hold for the better part of a year only to get nothing. How much is a year of your life worth?
I strongly suggest Charlotte Foreclosures or simply a resale home. The "potential" savings of a short sale merely allows the lender to procrastinate accepting the inevitable loss via the foreclosure. This allows the banks to slow down their write off but at your detriment. I have found a short sale is a disservice to the buyer.
When considering a good deal, let's weigh out all of the variables. Your life counts. If you would like to view Charlotte Foreclosures, simply request a free foreclosure updates. This is a much better way.