Short Sale the new US real estate buzz word
There was a great article yesterday which we commented on. The comment was lame because all it said was that we would write a post about the article today. So here I am writing about the article entitled ‘How to Determine a Short Sale Purchase Offer’.
This article makes for useful reading if you are interested in the US foreclosure market and foreclosed homes for sale. The thing I most liked about it was the presentation and explanation of US terminology. Something that is essential to get a grip of, as it never hurts to learn the lingo.
The article guides you through the process of making an offer on foreclosed homes for sale that a lender will feel is fair and acceptable. Here are a few of the terms that you might find useful. The article goes into detail and also explains different finance options:
- Short Sale Purchase
- Fair Market Value (FMV)
- After Repair Value (ARV)
- Broker Price Opinion (BPO)
The article is written by Cory Boatright and is an excellent read. On the other hand if you link through from the article to Cory’s site, it’s a completely different matter. You go from receiving the wisdom of a guy who can’t help you enough to feeling like you’re having your pockets picked.
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