Ready to buy a short sale?

	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, you can contact me through my site or e-mail me. I'm happy to answer any questions you have regarding real estate short sales.

Are short sales good deals?

• Always do your homework before making any offers. Using an experienced real estate professional from RealtyOne Group to help you research a property can help you make educated decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you decide how much to offer.

• Get a REALTOR^® with short sale experience. The real estate agents at RealtyOne Group can aid you in expediting the transaction and make sure you're protected. Don't allow inexperience to hinder the closing process. Put our experience and knowledge to work in your favor.

• Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that most short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. Commonly, your offer will be sent to a committee to approve which will add time - sometimes even 2 to 3 months.
• Home protection warranties, buyer credits and allowances, and closing cost concessions are typically non-negotiable when dealing with a short sale. The lender is selling the property as seen which means the lender won't be paying for repairs. Make sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At RealtyOne Group, when we write an offer, we will be looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the results of the inspections.