Every home buyer wants a deal, but when the price of a piece of real estate gets too low, there’s a reason. That’s when it’s time to stop, take a breath and let that tingling Spidey sense go to work.
There’s a good chance you’re standing on top of a short sale implemented by an owner desperate to avoid foreclosure. That doesn’t mean you should automatically walk away - just realize you’re advancing into a minefield and should take care before signing on the dotted line.
Consider the following pros and cons of buying a distressed property to prevent getting burned:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.