Short Sale Approved for First Time Buyers!
Posted by John Lockwood on August 14th, 2007
I’ve been working with a really great couple recently on the purchase of their first home and am really excited to announce that the home they liked has been approved for a short sale. We’ve all (the lender, the buyers, me and the seller’s agent) been waiting with bated breath for about a month now. No, I’m not kidding. The date on the contract says July 11th.
I met this couple while showing my listing on 7710 25th Avenue – which is still in the approval process for a short sale – and liked them instantly. For first-time buyers, they already know a lot about investing for the future, have experience maintaining property and are not afraid of the work owning a rental property involves. With the purchase of this home, which will be their primary, they will also be jumping into managing a rental for their relatives.
I see a bright future for them if they stick with it. And something tells me they will. Stay tuned!
September 15th, 2007 at 2:09 pm
I short sold my home earlier this year. It’s definitely not an easy process by any means. Even once I had a offer on the house, it still took nearly 3 months to finally close the deal. I was lucky and had a real estate agent with alot of short sale experience so that helped a ton.
I think doing the short sale was a good move though, but I started the process early and had good support. Good luck to anyone facing a short sale, make sure you have someone (family, friends, etc) that you can share your thoughts and frustrations with.
Regards,
DK