Looking to buy a short sale?

	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, you can contact me through my site or e-mail me. I'm happy to answer any questions you have regarding real estate short sales.

Are they good deals?

• Prior to making any purchase offers, do your research. Using a qualified REALTOR^® from Carol Jones Realtors 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. Getting this information can help you determine how much to offer.

• Use a REALTOR^® with short sale expertise. The real estate agents at Carol Jones Realtors can aid you in expediting the transaction and make sure you're protected. Don't let inexperience impede the closing process. Let our experience and knowledge work in your favor.

• Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that many short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will be seen by a committee to approve which will add time - sometimes even 2 to 3 months.
• Home protection plans, buyer credits and allowances, and closing cost concessions are typically non-negotiable 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 inspections for pests, HVAC, electrical, and other critical areas. At Carol Jones Realtors, when we write an offer, we are looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.