Want to make a deal on a short sale?

Are short sales good deals?

Sometimes. Many people hear the phrase "short sale" and automatically think of a seller that is in default and needs to sell their property fast to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to do well from 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 instances the reduced price may in fact be closer to current market values instead of below.

How do I buy a short sale?

• Before making any purchase offers, do your homework. Using a knowledgeable REALTOR^® from Unicasa International USA Realty to support your research of a property can help you make knowledgeable 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. Locating this info can help you make a decision about how much to offer.

• Use a real estate professional with short sale knowledge. Unicasa International USA Realty can aid you in expediting the transaction and make certain you're protected. Don't let inexperience impede the closing process. Let my 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 usually take longer than a typical real estate transaction. Know that most short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. Commonly, your offer will be presented to a committee for approval, which will add time - sometimes even 2 to 3 months.
• Home warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when buying a short sale. The lender will sell the property just the way it is which means the lender won't be paying for repairs. Make sure you 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'm looking out for your interests first and will always recommend that you make your offer contingent upon the results of the inspections.