Distressed Sales, Repossessions, Short Sales and Foreclosures

Distressed sales, repossessions, short sales and foreclosures: the credit crunch has introduced a whole new vocabulary into buying property overseas. Thanks to the economic downturn, property markets around the world are being flooded with properties now available that have been priced competitively low in order to achieve a quick sale. Even considering the weak pound, there are great bargain opportunities in Spain and Eastern European cities, Florida and some parts of the Carribean and Dubai - see all the usual websites. If you are in a position to buy comfortably but are new to the overseas investment arena you can sometimes get the best advice and a real feel for the market by looking at the web forum discussions on the issue. But if you want to talk one on one with the seller who is trying to offload before repossesion check out the holiday and house price forums where shouts for help and advice on escaping an investment nightmare are all too common this year.