Buying through a short sale can also be a lengthy process.Despite these risks, short sales can allow you to get a house in good condition and in a good neighborhood for a good price. This would allow you to make a fast turnaround and subsequently, a fast profit, on the investment. Every situation and property is different, so it is important to go into every situation with an open mind.
Just as the bank will have their bottom line, you need to have your price limits in mind before talking to them about a short sale price.Sheriff Sales and AuctionsA sheriff sale or auction happens after a house has been foreclosed on. The bank puts the house up for auction as a means to sell it and get back the money they are owed.