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Want to make a deal on a short sale?

Are short sales good deals?

From time to time, yes. Many people hear the term "short sale" and routinely think of a seller that is in trouble and must sell their house quickly to avoid further financial problems. This is at times 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 declined. In these cases the reduced price may in fact be consistent with current market values, not 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 help you research a property can help you make educated decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this information can help you make a decision about how much to offer.

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

• Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that most short sales will not close in 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will go before a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
• Home protection plans, buyer credits and allowances, and closing cost concessions are usually not negotiable when buying a short sale. The lender is selling the property "as is" which means the lender will not be paying for repairs. Always 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 am looking out for your interests above all else and will always advise you to make your offer contingent upon the results of the inspections.