Goshen Realty Group is led by REALTORS Nancy Milton and Kristina Pratt. We are proud to be
affiliated with RE/MAX Preferred Partners in Edwardsville, IL.
RE/MAX Preferred Partners
One 157 Center
Edwardsville, IL 62025
Copyright © Goshen Realty Group, Kristina Pratt & Nancy Milton, 2007-2009. All Rights Reserved.
Here are a few things to keep in mind when purchasing a foreclosure or short sale:
1. A short sale is when a seller accepts your offer, and then the contract goes to the bank for final
approval. Basically, a short sale in a situation where the bank has agreed to accept an offer for
less than what the seller owes on the property instead of going through the foreclosure process.
2. A foreclosure is when the home is already owned by the bank. All negotiating is done directly
with the lender.
3. Contracts can take anywhere from a few days to months to be accepted.
4. A larger down payment and/or conventional financing is usually required.
5. You must not have a house to sell first.
6. The cleaner the offer, the better your chances of having it accepted. These means fewer
contingencies, not asking for home warranties or closing costs, etc.
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