Video 88: If I am looking at Tempe homes for sale will I get a better deal with a Tempe short sale or a Tempe foreclosure? First question you need to ask is when do you need to be in a house by? If the answer is less than 4 months, I would suggest skipping the short sale and focus on the foreclosure. If you have no time frame then a Tempe short sale may be a better buy than a Tempe foreclosure.
The reason a short sale can be had at less is because of carrying costs by the bank on a foreclosure. If they sell it at market value as a foreclosure, they may only be netting 70% of the market value when all is said and done. So if you purchased it at 90% of market value the bank would be making out better and you may get a better deal. Of course every situation is unique. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
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