5 Common Short Sale Risks — and How to Avoid Them

5. Closing drags on. Short sales can take much longer to close as banks work to approve the deal, and legal problems due to unresolved liens create unforeseen delays. The solution: Plan ahead. Understand that it may take six months or more to close. Have a backup plan in place so you have an affordable place where you can stay in case you need to move out of your previous residence before the new home is ready.More: How to Help Your Relationship Survive a Remodel

“ … it’s crucial for buyers to go in with their eyes wide open.” — Christine TusherOne thing that came out of the recession is that “short sale” has become part of our lexicon. But do we really understand what’s involved in scooping up a potential bargain? Tusher’s article will help you figure out what you’re getting into, listing potential problems that may arise and leading you through how to address them.Full story: 5 Risks in Buying a Short-Sale Home — and How to Handle Them