Want to purchase a short sale?

Are short sales bargains?

The short answer is "sometimes". Many people hear the term "short sale" and automatically think of a seller that is in default and must sell their property fast to avert further financial problems. This is occasionally 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 isn't delinquent with their payments, but property values have fallen. In these cases the discounted price may in fact be consistent with actual market values, not below.

Are you ready to buy a short sale property?

• Always do your research before making any offers. Using a knowledgeable REALTOR^® from Unicasa International USA Realty to support your research of a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding these facts can help you determine how much to offer.

• Use a real estate professional with short sale expertise. The real estate agents at Unicasa International USA Realty can help expedite the transaction and make certain you're protected. Don't let inexperience impede the closing process. Let our experience and knowledge work for you.

• 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. Be aware 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 sale terms. Commonly, your offer will be presented 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 generally not negotiable when dealing with a short sale. The lender will be selling the property "as is" which means the lender isn't going to pay for repairs. Be sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Unicasa International USA Realty, when we write an offer, we will be looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.