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06-02-2009, 09:06 AM
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Re: Buying Foreclosed Homes
There are mainly two kinds of distressed properties that are out there. Bank Owned and Short Sells. Short Sells is when the sellers it trying to escape foreclosure. Usually Short Sells can take several months and can be very tediouis. Bank Owned properties are much easier since you are just dealing with the bank. They can close witihin 30-45 days. It's just a matter of what time frame you have to purchase the property.
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