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Want to purchase a short sale?

A short sale means the homeowner's lender consents to accept a reduced payment to release a mortgage.

Purchasing a short sale in Fall River, Massachusetts on your own is risky. Contact E Z Home Search Real Estate Inc. for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Often times people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and needs to sell their home promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In these cases the "bargain" price may in fact be in line with current market values, not below.

What's involved in buying a short sale?

  • Before making any purchase offers, do your research. Using an experienced real estate agent from E Z Home Search Real Estate Inc. to help you research a property can help you make educated decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having these facts can help you make a decision about how much to offer.
  • Get a real estate professional with short sale knowledge. E Z Home Search Real Estate Inc. can aid you in expediting the transaction and ensure that you're protected. Don't permit inexperience to hold up the closing process. Put my knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Know that many short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. A lot of the time your offer will be presented 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 usually non-negotiable when buying a short sale. The lender will be selling the property just the way it is which means the lender will not be paying for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At E Z Home Search Real Estate Inc., when I write an offer, I am looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.
When it's time to buy, whether it's a short sale or a typical home sale, E Z Home Search Real Estate Inc. can help. Apply my experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the complete transaction.

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