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  • Article Check - How Vacant Properties Turn a Short Sale Into a Treasure Hunt

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    pe of investment is the misconception that a vacant property is fair game to any investor who comes along.

    That could not be further from the truth.

    The most importan

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    Every neighborhood has them. Every property investor is intrigued by them.

    Drive through the streets of your town and you’re likely to see them, too. Homes without people to fill them often seem like an investor’s dream. While they certainly can yield a handsome profit, be prepared for a frustrating (and exciting!) short sale experience – getting a deep discount on the amount of the mortgage owed when you buy a house before it gets sold at the sheriff sale.

    One of the most difficult situations to deal with in short sale investing is, in fact, the vacant property. An empty home does not mean an investment is impossible. It can, however, be a bit complicated. What is so dangerous about this type of investment is the misconception that a vacant property is fair game to any investor who comes along.

    That could not be further from the truth.

    The most important

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    o fill them often seem like an investor’s dream. While they certainly can yield a handsome profit, be prepared for a frustrating (and exciting!) short sale experience – getting a deep discount on the amount of the mortgage owed when you buy a house before it gets sold at the sheriff sale.

    One of the most difficult situations to deal with in short sale investing is, in fact, the vacant property. An empty home does not mean an investment is impossible. It can, however, be a bit complicated. What is so dangerous about this type of investment is the misconception that a vacant property is fair game to any investor who comes along.

    That could not be further from the truth.

    The most importan

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    deep discount on the amount of the mortgage owed when you buy a house before it gets sold at the sheriff sale.

    One of the most difficult situations to deal with in short sale investing is, in fact, the vacant property. An empty home does not mean an investment is impossible. It can, however, be a bit complicated. What is so dangerous about this type of investment is the misconception that a vacant property is fair game to any investor who comes along.

    That could not be further from the truth.

    The most importan

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    ale investing is, in fact, the vacant property. An empty home does not mean an investment is impossible. It can, however, be a bit complicated. What is so dangerous about this type of investment is the misconception that a vacant property is fair game to any investor who comes along.

    That could not be further from the truth.

    The most importan

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    pe of investment is the misconception that a vacant property is fair game to any investor who comes along.

    That could not be further from the truth.

    The most important thing to keep in mind during a short sale is that even though the owners are in financial trouble, even though they are not paying their mortgage, and even though they may not actually live in the home, their name is still on the deed and they are still legally the owners. This means that before you even consider dealing with the bank you must have their permission.

    This is normally an easy process, as the sellers are usually more than willing to cut a deal that saves them from foreclosure, almost always at NO additional cost to them. Many of these sellers owe more on their loans than the property is even worth. That gives the short sale investor a major advantage, yet one problem remains: You h

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