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Looking to buy a short sale?

If a homeowner is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender consents to release the mortgage for an amount less than what's owed. For more information, simply contact me through my site or e-mail me. I'm glad to address questions you have regarding real estate short sales.

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?

Sometimes. Most people hear the phrase "short sale" and automatically think of a seller that is in trouble and must sell their house fast to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have declined. In these instances the reduced price may in fact be in line with true market values, not below.

What's involved in buying a short sale?

  • Always do your homework before making any offers. Using a knowledgeable REALTOR® from E Z Home Search Real Estate Inc. to assist you with researching a property will help you make knowledgeable decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you decide how much to offer.
  • Use a real estate professional with short sale experience. E Z Home Search Real Estate Inc. can help expedite the transaction and make certain you're protected. Don't permit inexperience to impede the closing process. Let my experience and knowledge work in your favor.

  • Even in the best of situations and with an experienced real estate agent, 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 discounted price. A lot of the time your offer will go before 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 not negotiable when dealing with a short sale. The lender will sell the property as seen which means the lender won't be paying for repairs. Always 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 will be looking out for your interests first and will always suggest that you make your offer contingent upon the inspection results.
When it's time to buy, whether it be a short sale or a typical home sale, E Z Home Search Real Estate Inc. can help you. Use my experience and knowledge of real estate to make sure that you are getting a fair deal and are protected during the whole purchase transaction.

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