Ready to purchase a short sale?

	When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.

Can I get a good deal on a short sale?

• Prior to making any purchase offers, do your research. Using a knowledgeable real estate agent from REMAX Properties to support your research of 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. Having these facts can help you make a decision about how much to offer.

• Get a real estate agent with short sale expertise. The real estate agents at REMAX Properties can aid you in expediting the transaction and make certain you're protected. Don't permit inexperience to slow down the closing process. Let our 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 usually take longer than a typical real estate transaction. Be informed that most short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. In most cases your offer will go before a committee for approval which will add time - sometimes even 2 to 3 months.
• Home protection plans, buyer credits and allowances, and closing cost concessions are typically not negotiable when buying a short sale. The lender is selling the property just the way it is which means the lender won't be paying for repairs. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At REMAX Properties, when we write an offer, we will be looking out for your interests first and will always recommend that you make your offer contingent upon the outcome of the inspections.