Search Chattanooga Short Sales

Purchasing a short sale is usually not an easy task as the whole process generally takes over 3 months and typically between 6-9 months. Many buyers in the area get frustrated with the whole process or decide to simply narrow their search to Chattanooga foreclosures instead. However from a buyer’s or investor’s perspective, short sales can be as one of the best buys out there less maybe an auction which are much more rare.

How To Purchase a Short Sale

Short sales are require you to have a contract with the seller and the bank or obtain bank approval. In most instances the sellers are wiling to sign of on your offer so that you can attempt to obtain bank approval as they just do not want a foreclosure on their record. If the sellers attempt to negotiate you, in most instances unless your offer in outrageous, you should walk away or negotiate very little as the bank will almost certainly try to negotiate with you as well. In almost all instances the bank will require you and the seller to have separate agents and provided they are experienced at doing short sales, they will guide you through the process which from a buyer’s point of view is really not that much different besides the waiting.