Thursday, June 18, 2009

Legal Tip: Buying Foreclosed or Short Sale Property (Real Estate)

Buying Foreclosed or Short Sale Property:

Generally speaking, in Virginia, buying property at a foreclosure sale or through a short sale is often subjected to many variables. For example - How long will the short sale process take? does the property have title defects that will cost you money in the future? A real estate lawyer can help you to find answers to these questions and may also be able to protect you from some of the variables. The key is to consult a lawyer before signing any contracts or making any bids.

As usual, every situation has exceptions.  Consult with a Charlottesville attorney to get the full details.

Doron Samuel-Siegel
Tucker Griffin Barnes P.C.
Charlottesville, Virginia

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