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Short Sales - How to Find Them

Ben Janke
 


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People always ask me how they can find the best and most accurate information on shore sales in their area.   Most of the information for shore sales is held by the local real estate association and most of that data is available to the public.   However, short sale information is not always displayed in the public listings.   Many of them MLS systems now have in place a specific data input for short sales.   This is great for buyers and anyone else involved in the real estate transaction.

A short sale is a real estate transaction where you are asking the bank to take less on a home then what is owed.   This can definitely be a tricky transaction.   Make sure that you bring in an experience buyer's agent to help you with the paperwork in negotiations.   Typically, the buyer's agent services will be free to you.

In any real estate listing there is public data and private agent data.   Many agents are starting to put the information telling you that it is a short sale and the public data area.   However, if the short sale information is only in the agent area, you will be unable to identify the property as a short sale without the help of the buyer's agent.   Each and the MLS system across the country is different and has different regulations and standards.   I would say that most analysts systems will notify buyers that the property is a short sale, but you will be losing out on a possible gem if you don't get with an agent to help you find a property.

The best places to find shore sell properties are on real estate agent websites or company websites.   Some of the best systems will allow you to search for short sales or foreclosures exclusively.   This is the best way to find properties that are available and ready for you to view.   Some of the large national foreclosure sites like realtytrac.com will only tell you if the property is in default, but it typically won't tell you if the property is on the market and available for you to offer on.   Searching the local MLS system should be the best solution for you.

If you cannot find a good real estate listings website in your area, contact an experienced agent and have them pull the data for you.   Typically this data can be emailed or faxed.

The so many great real estate deals available on the market today, is very important that if you are a buyer or an investor that you understand the intricacies of short sales and foreclosures before you make the move because even though the market it is great for buying right now, you can still lose out big.   So just like you would go to a doctor specialist for health problem, you'll also need to seek out the specialist real estate agent in your area to help you with the short sale foreclosure process.

Ben Janke is a Idaho real estate broker that has written free real estate guides that you can access by clicking the following link Boise ID Real Estate

If you are are buyer or selling the the Boise real estate market, go to VizionsRealEstate.com for the most recent information on the market and Idaho's #1 home search tool.

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