1. [Volume 1, Issue 4]
The Guide to
Buying Short
Sale Homes
Contents
The stage in the process of real estate
Introduction ..……………………..1
foreclosures in which the homeowner
can perform a short sale is the pre- Buying a Short Sale…......……..2
foreclosure period. It begins when the
owner is issued a Notice of Default Contact Info…………………………3
alerting them of their debt. During this
time the owner also has the option of
paying back their default or applying for
loan modification.

2. 2
A short sale, also known as a pre-foreclosure, is beneficial
not just for you as the buyer, but also to the homeowner and
lender. The bank allows the owner to sell their home at a
price that covers part or all of their remaining debt. This lets
the owner pay back their default to the bank and avoid a
foreclosure on their credit. This guide will show you how to
purchase a short sale:
 Hire a realtor: While this step is not absolutely necessary,
it may be crucial for first time homebuyers to hire a real
estate agent who specializes in home foreclosures. Even
homebuyers and investors experienced in foreclosed homes
for sale may benefit from hiring a realtor.
 Run a title search: This will tell you about any debts and
liens on the property. Ideally you want a home with a clean
title. You may become responsible for paying any unpaid
liens racked up by a previous owner on any foreclosed
homes you purchase.
 Inspect the home: Unlike auctions where you may not
have time to professionally inspect foreclosure homes
before the sale date, short sales allow you time to
thoroughly inspect the home. Hire a contractor and
appraiser to help you determine the price you’ll offer for the
house.
What’s does that mean?  Negotiate with the homeowner: Though the lender may
have final say on approving a short sale, the homeowner has
For more terms and definitions, some flexibility on negotiating a price. The homeowner may
check out ForeclosureDeals.com’s be willing to settle on a price that mostly or partially covers
glossary page:
http://www.foreclosuredeals.com/G
their default rather than the full amount.
lossary.php

3. 3
Foreclosure Deals
Remember to be sensitive to the homeowner’s situation.
12550 Biscayne Blvd, Suite 306 They likely fell into some hardship that resulted in them
Miami, FL 33181
FAX: 1-347-402-6620 defaulting on their home loan. When negotiating with the
Contact@foreclosuredeals.com seller, try to refrain from referring to their home as a
foreclosure. If the owner or bank will not budge on a price
If it’s not a deal, we won’t list it here!
you don’t believe the house is worth, remember that there
Find us on the Web: will always be other foreclosure listings.
http://www.ForeclosureDeals.com/
Need to know more about the short sale process? Try our
blog: http://www.foreclosuredeals.com/foreclosure-short-
sales/