Ready to purchase a short sale?

Are short sales good deals?

The short answer is "sometimes". Most people hear the words "short sale" and instinctively think of a seller that is in default and must sell their home fast to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the "bargain" price may in fact be in line with true market values, not below.

How do I buy a short sale?

• Always do your homework before making any offers. Using an experienced real estate professional from Unicasa International USA Realty to support your research of a property can help you make educated decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting this data can help you determine how much to offer.

• Get a REALTOR^® with short sale experience. Unicasa International USA Realty can help expedite the transaction and make sure you're protected. Don't let inexperience impede 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 generally take longer than a typical real estate transaction. Know that a majority of 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. It's not uncommon that 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 generally not negotiable when dealing with a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Unicasa International USA Realty, 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.