[waytzu]

sale from a buyer's perpective? I am looking for buying a house in Chicago north suburbs. I see a lot of foreclosure and short sale properties. What's the difference between them in terms of the precedure of buying. Should I consider them seriously as buying options?

[Homelink Homes]

Our website offers short sale help for distressed homes. You should certainly consider these home as buying options. Basically, people will request a short sale from the bank when the amount that they owe on their mortgage is higher than the value of the home. Oftentimes, the bank will consider a short sale instead of foreclosure, because the bank wouldn't make much money selling the house at auction. You could consider buying a house at sheriff's sale, but most states require that you pay a percentage of the amount on the spot, but if you were buying a house that was going to short sale, you might get a better deal and have a little more time to think about it. Hope that helps.Thank you