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Do you know enough about buying short sales? - Sept 24, 2009
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September 24, 2009
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Do you know enough about buying short sales?
Buying a short sale is not as simple as figuring out what brand of ice cream is on sale at your local grocer. Trying to buy a short sale may give you an opportunity to get in at a deep discount, or it might just give you a big fat headache. That's why we're here – from helping you understand what a short sale is, to the process involved between the sellers and their lender, and of course, what issues to look out for – we've got your back. 
What is a short sale? 
A short sale, ANYTHING but short
Written by Vicky Chrisner, Agent in Leesburg, VA
The first time I heard a buyer say they thought a short sale was someone who needed to sell quickly (in other words, they thought the sale would happen in a short period of time), I giggled a little. When I thought about it, I could totally understand the thought pattern. The reality is nearly the opposite...
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What are the steps to buy a short sale? 
Q: How to buy a short sale?
Asked by Venus, Home Buyer from East Orange, NJ
Buying a short sale can be a long and complex process, it starts when a buyer presents an offer on the property, the offer gets submitted to the bank with all the necessary documents from the sellers proving their inability…
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What should I look out for when buying a short sale?
Q: Should I worry about the electric bills, water bills, property tax from previous owners when buying a short sale?
Asked by Schi, Home Buyer from Sacramento, CA
Neither electric bills nor water bills of the seller are your responsibility if they are not paid. However, unpaid taxes are a lien on the property and many times, delinquent utilities will be added to the tax bill. They'll be listed under special assessments…
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House of the week | Bali-inspired Honolulu estate
House of the week
$9,500,000 / 8bd / 7ba / 6,108 sqft
Get the best of both Bali and Honolulu with this Bali-inspired estate in Honolulu. Located in a prime location while boasting glass walls, glowing hardwood floors and great architecture throughout, it all boils down to a pretty $9.5M. Isn't that totally worth it for a lifestyle many can only dream of having?

Review your homeowner's insurance policy annually
Celebrity home sightings | Get your superficial fix here

Actor Jerry Douglas, best known for his role as John Abbott on The Young and the Restless , re-lists his classically designed home with a 2-story guest house
$2,695,000
5bd / 5.5ba / 5,335 sqft

Christina Ricci, who became a star with her role in The Addams Family, lists her private getaway with a mosaic tiled pool and rich architecture throughout
$1,549,000
3bd / 3ba

Former home of Steve McQueen, aka “The King of Cool,” is now listed for sale with antique stained glass windows and vineyard
$1,950,000
3bd / 2.75ba / 13,126 sqft
Advice & opinions | Get insightful, fast, FREE advice on home buying & selling
Question of the week
Q: Why do some agents cheat, lie and hide information?
Those few that do — most are honest and reputable — do so because they're dishonest. And they should be driven out of the profession. Report any agent who cheats or lies to the agent's managing broker. And if that doesn't sufficiently address the problem, report the agent…
Asked by Buyers2009, Home Buyer in Paoli, PA
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Real estate eye candy | Trulia picks
Steals & Deals: Under 350K
There’s still hope to getting plenty of bang for your buck in today’s economy. The choice is yours with many offering upgrades, from Roman-style showers to oversized decks.

Sarasota, FL
$299,000
3 bed / 2 bath / 1,721 sq ft
Calculate mortgage


Durham, NC
$335,000
3 bed / 2.5 bath
Calculate mortgage


Indianapolis, IN
$275,000
5 bed / 3 bath / 3,766 sq ft
Calculate mortgage

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