5 Aspects of Short Sales January 11, 2015 By Clay Adams 5 Aspects to Know About the Short Sale Market The short sale market in areas such as Myrtle Beach is booming. Lenders are more willing than ever to work with people who have the potential to purchase the property that would otherwise enter foreclosure. And, in the Myrtle Beach real estate m arket, it is particularly beneficial to buy because there are short sale real estate agents ready and e xperienced enough to help you. But, before you take a step towards this process, there are some things yo u need to know. 1. Know the process is unpredictable. There is no way to guarantee the transaction will occur, the price will stick or that the process will be fast. You want to work with a real estate agent that provides you with real information about the likeli hood of the process occurring. 2. You may find the process emotionally challenging. You may find that the process has a lot of ups and downs. Minimize these by hiring an effectiv e agent. 3. You need a good seller’s agent. In short, the selle r’s agent can help the process to speed up, if and when he lists the property properly and ensures the seller is a qualified short sale. Be sure the seller’s agent is experienced in short sale rea l estate before entering the contract. 4. Not all short sale sales are good deals. In other w ords, you may not always get the well below appraisal value you are hoping. You should not spen d more than the appraised value, but not all transactions are significantly lower. This does not mean, however, you will lose money. 5. Banks do not care about your circumstances. In shor t, no matter if you are buying short sales or selling as a short sale, the bank is only intereste d in its bottom line. By understanding this now, you can reduce your own risks. In many cases, the short sale market is lacking in overall appeal to some buyers. On the flip side, if you are willing to wait and you want a great deal, the short sale market in areas such as the Myrtle Beach real estate market, you are likely to be successful . [wpdreams_rpp id=1] .