Becoming one of the thousands of short sale house buyers can be exciting and lucrative; if you understand how the system works, it can be a fairly easy way to profit from real estate. A short sale is one in which the property is sold for less than the amount still owed on the mortgage, and as the buyer, you can often find great deals on homes. Many buyers make a point of snapping up short sale properties, carrying out some renovations and then selling for a profit. The lender is far more likely to offer a buyer favorable terms, such as a lower interest rate, and in many cases the sale is put through quickly and efficiently. It’s easy to find short sale homes by browsing online, contacting local lenders or simply driving around your neighborhood looking for bank owned homes.
