Looking to purchase a short sale?


	When 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 due. For more information, you can contact me through my site or e-mail me. I'm glad to answer any questions you have about real estate short sales.

Purchasing a short sale in Gilbert, Arizona on your own is risky. Contact Realty Executives East Valley for expert advice.

Are short sales good deals?

Every now and then a good deal will come along. Most people hear the phrase "short sale" and instinctively think of a seller that is in trouble and needing to sell their home fast 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. On the other hand, a lender may consider a short sale even if the seller is current, but property values have fallen. In these cases the discounted price may in fact be in line with current market values instead of below.

Are you ready to buy a short sale property?

Always do your research before making any offers. Using an experienced real estate agent from Realty Executives East Valley to support your research of a property will help you make informed decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you determine how much to offer.
Get a real estate professional with short sale knowledge. The real estate agents at Realty Executives East Valley can help expedite the transaction and make certain you're protected. Don't permit inexperience to slow down the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Know that most short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be sent to a committee for approval which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are normally not negotiable when buying a short sale. The lender will be selling the property "as is" which means the lender will not be paying for repairs. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Realty Executives East Valley, when we write an offer, we're looking out for your interests above all else and will always recommend that you make your offer contingent upon the results of the inspections.

When you are ready to buy, whether it's a short sale or a typical home sale, Realty Executives East Valley can help. Apply our experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the entire purchase transaction.