Friday, January 18, 2013
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Investing in real estate may not seem like the best idea right now, unless you are able to get a lead on distressed properties or short sales. But these properties are not always available in the area where you live, so how do you find these types of properties? According to one prominent Colorado Springs Realtor, the best way to make short sale offers in is to work with an experienced buyer's agent.
As the name implies, a buyer's agent represents the buyer, not the seller. For investors or home buyers who are looking for a lead on short sale properties in a specific area, it makes sense to work with a buyer's agent who knows the local neighborhoods inside and out.
Even though the some real estate markets are relatively healthy, compared to many other metropolitan areas, you can find distressed properties that are headed for a foreclosure.
For the seller, short sales are preferable because they do not have an effect on their credit report, but since these homes are "under water" financially, there is only a short window of opportunity to buy. A buyer's agent usually finds out about these properties well before the general public, which makes it extremely advantageous for investors to hire one.
A successful short sale offer requires the agent to be in constant contact with lenders to make sure the sale is approved. To find a good buyer's agent, find short sale properties, and to begin making offers, you will need to work with someone who has a lot of experience in this area. Take the time to interview a few of the best Realtors you find and make sure they are not over-committed to other clients.
This post was written by: Franklin Manuel
Franklin Manuel is a professional blogger, web designer and front end web developer. Follow him on Twitter