With the Myrtle Beach real estate market having a slow down, many banks are feeling the pressure to allow seller to sell for less than what is owed on their properties. These Myrtle Beach short sales are becoming more and more common. It is always unfortunate when someone looses their home but in the short sale situation many of the people are already behind on payments and are in the pre-foreclosure stage.

Looking at Myrtle Beach short sales is a great way to get a deal on a property but it is time consuming and the banks move extremely slow. All short sale contracts have to be contingent on the banks approval to allow the property to be sold for less than what is owed. In many cases it takes the bank 4 to 12 weeks just to respond to an offer. By purchasing this way you are buying before the property goes to a public auction and the bank has added in the legal costs of foreclosure.

When looking at Myrtle Beach short sales it is important to use a real estate agent that is experienced with the process and to be fully prepared to not get an immediate response from the bank.

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