$46,000


2 Beds   1 Bath   Townhome

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E 22nd St
Wilmington, DE 19802

Potential Profit

$36,685

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Status: Active
Listing ID: 56710020

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Short Sale

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

First Steps to Buying a Short Sale

Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.

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Wilmington, DE
Home Inspectors

Reliable Home Inspection Service
John Kerrigan
302-993-9100
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Gregory Burns
302-993-9100
foreclosure.com

E 22nd St
Wilmington, DE 19802

2 Beds   1 Bath   Townhome

$46,000

Status: Active Listing ID: 56710020

Property Information

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Public Records

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Property Description

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Listing URL

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