short sale vs. foreclosure, how to arrange a short sale


With foreclosures still going up there is a growing number of people still pondering on the benefits and differences of getting a short sale vs. foreclosure. For homeowners, the debate of short sale vs. foreclosure is very simple, in every case it is better to sell a home through a short sale than letting it go into foreclosure. So really the question on whether someone should get a short sale vs. foreclosure is a problem only for investors. The issue comes up, because, as most of us know, getting a home though foreclosure will come with much nicer price cuts when compared to short sales. However, the short sale vs. foreclosure debate does not solely hinge on price. One real advantage of a short sale home is that an investor gets to inspect the home before buying it so there are no surprises. Furthermore, investors won’t have as many competitors trying to get the house compared to an auction. Yes, if you are concerned only on short sale vs. foreclosure prices then you should go for foreclosure, but you might be shocked at all the improvements you might have to make in a home which might then put you above what you might have paid for a short sale. Ultimately, I think learning how to arrange a short sale is a safer investment than a foreclosure.