NOW is the time to buy!
Buying a short sale home, condominium, town home or property is a great opportunity to purchase a home for 10%-50% below market value! When buying a short sale home, it is important to have a Realtor who is experienced in the area of short sales. Get expert advice when using one of our short sale specialist Realtors in your area to purchase a short sale home, condominium, townhome or property!
There are excellent financing programs and tax credits for first time home buyers. It is possible to own a home, townhome, or condominium for less than rent!
When buying a Short Sale Home, choose a Realtor who is experienced in working with short sales in your area! It is a fact that when it comes to short sale properties for sale, most of these types of properties are not offered to the public for sale! Many of the best properties available right now are being sold off prior to foreclosure, and Realtors on our team have access to these deals! Contact us today!
Fill out the form below and specify what you want and need in a home. One of our local Realtors will email you potential properties right away for FREE. You may also call us toll free at (877)737-4903 to discuss short sale homes available in your area.
Fill out the form to find a Short Sale Specialist in your area!
A short sale typically occurs when the outstanding loans and liens against a property are greater than the proceeds from the sale of the home, after all closing costs are paid, and the sellers’ lenders agree to accept a lower payoff instead of a foreclosure.
Buying a Short Sale Home, Townhome, Condominium, or Short Sale Property?
Why buy a short sale home?
- A seller’s lender/bank is in the money lending business, NOT in the property management business. In addition, a foreclosure proceeding costs a lender $58,000 on average. Due to this fact, a lender will typically accept 10%-50% below market value on a property in order to avoid foreclosure.
- Also due to the facts above, quite frequently a short sale home will actually sell for less that a foreclosure home.
- As short sales become more and more common, and the lenders streamline the short sale process, the best homes will be sold off as short sales prior to foreclosure.
- Many short sale homes are not offered to the general public. That is why it is important to have an active short sale specialist Realtor to keep their eyes out for the perfect property for you.
What you should know about short sale homes…
- There can be quite a wait to get an answer, depending on the lender and how far along they are in the process. This waiting time can be a couple weeks to a couple months.
However, as our government steps in for the bailout and while lenders get better at processing, the process will likely become streamlined and much faster.
- Due to the time frame involved, as well as the uncertainty, short sales are not for every home buyer.
- Similar to a foreclosure, a short sale home is typically sold with no repairs being made to the property. This is because the home owner is in a financial hardship in most cases.
- Many short sale homes are not even offered to the general public, and it is very important to have a Realtor who specializes in them.