Looking to make a deal on a short sale?


	When a homeowner is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's owed. For more information, just contact me through my site or e-mail me. I'm glad to address questions you have about 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.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Many people hear the words "short sale" and automatically think of a seller that is insolvent and must sell their home promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have declined. In these cases the reduced price may in fact be closer to actual market values instead of below.

How do I buy a short sale?

Before making any purchase offers, do your research. Using an experienced real estate agent from Go! Real Estate, Inc. to support your research of 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. Getting this data 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 Go! Real Estate, Inc. can aid you in expediting the transaction and make sure you're protected. Don't let inexperience hold up the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will probably take longer than a typical real estate transaction. Know that many short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. It's not uncommon that your offer will be seen by a committee to approve which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when dealing with a short sale. The lender is selling the property as seen which means the lender isn't going to pay for repairs. Make sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Go! Real Estate, Inc., when we write an offer, we are looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the inspection results.

When you're ready to buy, whether it is a short sale or a typical home sale, Go! Real Estate, Inc. can help you. Utilize our experience and knowledge of real estate to be confident that you are getting a fair deal and will be protected during the whole matter.