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Ready to purchase a short sale?

Are they good deals?

Sometimes. Most people hear the term "short sale" and automatically think of a seller that is insolvent and must sell their property promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. Alternatively, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In cases such as these the discounted price may in fact be consistent with actual market values instead of below.

How do I buy a short sale?

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

• Hire a REALTOR^® with short sale knowledge. Unicasa International USA Realty can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience slow down the closing process. Put my knowledge and experience to 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 aware that a majority of 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 discounted price. In most cases 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 usually not negotiable when working with a short sale. The lender will be selling the property "as is" 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 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 results of the inspections.