Buying a home on a short sale can save you money, but there are some factors to consider.
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Local Articles in Berrien Springs
Selling your house? You might be tempted to forgo hiring a Realtor and sell the house yourself — after all, how hard can it be?
Finding lenders, real estate agents, home inspectors and other professionals you can trust is an important first step in buying a house.
Buying a house is an emotional journey — from finding the perfect property to securing the ideal price. The last thing anyone wants to endure is a real estate closing that resembles a roller coaster ride.
As with anything like this, some are scams, some legit but poorly organized or run, some legit. There are a few new companies set up by hedge funds just getting into rentals and into buying foreclosed properties in good shape, which they then rent or lease and will, in some cases, allow rent to partly apply to purchase.
Before you even think about this type of arrangement, you should have it THOROUGHLY reviewed by a lawyer, because once you get into it you will be stuck, and most likely there will be a LOT of terms restricting your investment. Considering the average person moves every 5 years or so for employment or family or medical reasons, and generally these sort of arrangements have to be carried through to completion to get ANY of your investment back out of the deal, it is generally a losing proposition for almost everyone - a fact the companies count on.
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