Ready to make a deal on a short sale?

Can I get a bargain on a short sale?

Sometimes. Many people hear the term "short sale" and instinctively think of a seller that is in default and needing to sell their house promptly to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these instances the reduced price may in fact be in line with current market values, not below.

Are you ready to buy a short sale property?

• Always do your research before making any offers. Using a qualified real estate agent from Unicasa International USA Realty to support your research of a property will help you make educated 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. Obtaining these facts can help you decide how much to offer.

• Hire an agent with short sale experience. Unicasa International USA Realty can assist you in expediting the transaction and make sure you're protected. Don't let inexperience delay the closing process. Let my experience and knowledge work for you.

• 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 many short sales will not close in the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the sale terms. A lot of the time your offer will go before a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
• Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when buying a short sale. The lender is selling the property "as is" which means the lender will not be paying for repairs. Be sure you 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'm looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the results of the inspections.