Why Buy a Short Sale?

Although there are quite a few opinions when it comes to short sales, most would agree that a short sale can be a great way to get into a home that is below market price. REO, or real estate owned properties, are also good, but these usually result in a bidding war. Another advantage to purchasing a short sale is getting the property for a considerable discount, as the lender is anxious to get the money back that was loaned out. This may also work to the buyer's advantage as the lender may offer beneficial financing terms. Another positive in purchasing a short sale is that the seller is involved in the procedure and the buyer will have the seller's assistance.