If you have been looking at property development opportunities, you may have seen short sales and foreclosed properties listed for sale.

These seem like great chances to purchase a property for development at prices that may seem very affordable. But what is a short sale, how can it be an advantage for you, and what are some of the drawbacks that you need to be aware of? Here is the information that you need to know.

What a short sale is
A short sale is a property that is for sale for less than the amount of any property development mortgage opportunities or liens that are connected to that property.

Getting Property Development and Refurbishment Finance in 2020 | Economic  Journal

If someone is having difficulty paying their mortgage but does not want to go into foreclosure, they may be able to get the financial institution that holds that mortgage to knock some of the debt off in order to sell the property. The theory is that a lower price may make it more appealing to buyers and that the bank will get some, if not all, of the money that they invested in the property.

Many properties went on the market as short sales due to the recent economic crisis. In some areas that were particularly hard hit there may be hundreds of these properties available for sale.

In some of these places the market is beginning to bounce back a little and some great properties are being snapped up at great prices.

Contact Law can help a client decide the best course of action. If they are ready to move forward with a solicitor, they will refer them to one or more of their recommended lawyers that match your needs.

Your recommended employment lawyer will contact you that day. Do you want to find out if you will need an employment solicitor?

You won't find all the bells and whistles here. If you are looking for the best solicitors, you can search lawyers near me over the web.

How does Contact Law work?

Contact Law, one of the largest law firms, offers a referral model that allows consumers to choose from. Nearly 10,000 people are helped each month by them to find the right solicitor for them.

There are 25 trained, dedicated case handlers based in Bexleyheath. Each person who inquires about their situation speaks to a case handler.

Contact law has a referral agreement. All law firms sign a service level agreement to ensure that their clients receive the best possible customer service. Contact Law will keep in touch with clients on a regular basis to make sure you are satisfied with the solicitor they refer.

Contact law collects feedback from consumers to determine which law firms are satisfied and make a genuine recommendation to them.