This article covers the legal aspects of purchasing a home from a buyer’s and a selling Realtor’s® perspective in a down housing market when sellers are involved in short sales or foreclosures of their homes. Thus, this article provides some legal points and the practical aspects for buyers and their Realtors® to consider in purchasing a home that is a part of a short sale, a foreclosure, or simply a good buy in the current market.
Importantly, this article is also designed to be an upbeat handout for you to give to potential buyers who need a home, but are worried about whether now is the time to buy. It also emphasizes to buyers the need to have a Realtor®, particularly in this market.
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