In fact, as recent as a year ago, buyers were happy to buy a home that was not a short sale or a foreclosure. Nowadays, if the home isn't a distressed sale, you might want to ask yourself why. In some parts of the country, half to three-fourths of all home sales are bank-owned or short sale offerings.
Conventional lenders are following FHA lending guidelines and invoking seasoning requirements on new financing. Before you get all excited over making an offer, pull up the title records of the home you intend to buy and find out how long the seller has owned it. Some investors are buying homes at foreclosure auctions or at trustee's sales and attempting to immediately resell them. However, your lender might refuse to lend to you under these circumstances . . . read more about Flipper Home Mortgages.
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