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Want to make a deal on a short sale?

A short sale happens when the homeowner's lender has agreed to receive a reduced payment to release a mortgage. For more information, you can 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 Bronx, New York on your own is risky. Contact Go!  Real Estate, Inc. for expert advice.

Are they good deals?

Sometimes. Most people hear the phrase "short sale" and automatically think of a seller that is insolvent and needs to sell their house promptly to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, 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 reduced price may in fact be consistent with current market values rather than below.

Are you ready to buy a short sale property?

  • Always do your homework before making any offers. Using an experienced REALTOR® from Go! Real Estate, Inc. to support your research of a property will help you make knowledgeable decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Finding this info can help you make a decision about how much to offer.
  • Use a REALTOR® with short sale knowledge. Go! Real Estate, Inc. can help expedite the transaction and make certain you're protected. Don't permit inexperience to delay the closing process. Put my 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 aware 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 sale terms. A lot of the time 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 usually non-negotiable when buying a short sale. The lender will be 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 perform inspections for pests, HVAC, electrical, and other critical areas. At Go! Real Estate, Inc., when I write an offer, I am looking out for your interests first and will always recommend that you make your offer contingent upon the results of the inspections.
When it is time to buy, whether it is a short sale or a typical home sale, Go! Real Estate, Inc. can help. Apply my experience and knowledge of real estate to be confident you are getting a fair deal and are protected during the complete purchase transaction.