Goshen Realty Group is led by REALTORS Nancy Milton and Kristina Pratt. We are proud to be
affiliated with RE/MAX Preferred Partners in Edwardsville, IL.

RE/MAX Preferred Partners
One 157 Center
Edwardsville, IL 62025
618-655-1188 office
Copyright © Goshen Realty Group, Kristina Pratt & Nancy Milton, 2007-2009. All Rights Reserved.
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Here are a few things to keep in mind when purchasing a foreclosure or short sale:

1.  A short sale is when a seller accepts your offer, and then the contract goes to the bank for final
approval.  Basically, a short sale in a situation where the bank has agreed to accept an offer for
less than what the seller owes on the property instead of going through the foreclosure process.

2.  A foreclosure is when the home is already owned by the bank.  All negotiating is done directly
with the lender.

3.  Contracts can take anywhere from a few days to months to be accepted.

4.  A larger down payment and/or conventional financing is usually required.

5.  You must not have a house to sell first.

6.  The cleaner the offer, the better your chances of having it accepted.  These means fewer
contingencies, not asking for home warranties or closing costs, etc.

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