Ready to buy a short sale?

Are short sales good deals?

From time to time, yes. Most people hear the term "short sale" and routinely think of a seller that is in financial trouble and must sell their property quickly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these cases the "bargain" price may in fact be consistent with current market values, not below.

How do I buy a short sale?

• Always do your homework before making any offers. Using a qualified REALTOR^® from Unicasa International USA Realty to support your research of a property will help you make knowledgeable decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this info can help you decide how much to offer.

• Hire a REALTOR^® with short sale experience. Unicasa International USA Realty can aid you in expediting the transaction and make certain you're protected. Don't allow inexperience to slow down the closing process. Put my experience and knowledge to work in your favor.

• 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 informed that a majority of short sales will not close in 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. It's not uncommon that your offer will be presented to a committee for approval, which will add time - sometimes even 2 to 3 months.
• Home protection plans, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when working with a short sale. The lender will be selling the property just the way it is which means the lender will not be paying for repairs. Make 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 will be looking out for your interests first and will always advise you to make your offer contingent upon the results of the inspections.