Looking to purchase a short sale?

	A short sale means the homeowner's lender agrees to accept a reduced sum to release a mortgage.

Are short sales bargains?

• Always do your research before making any offers. Using a qualified real estate professional from Realty Executives Cares - Piero Reece - Broker License #01159191 to assist you with researching a property will help you make educated decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Having these facts can help you decide how much to offer.

• Use an agent with short sale knowledge. The real estate agents at Realty Executives Cares - Piero Reece - Broker License #01159191 can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to delay the closing process. Put our experience and knowledge to work in your favor.

• Even in the best of situations and with an experienced real estate agent, 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 having to satisfy the seller, but the lender must also agree to the terms of the sale. It's not uncommon that your offer will go before a committee to approve 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 dealing with a short sale. The lender is selling the property just the way it is which means the lender isn't going to pay for repairs. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Realty Executives Cares - Piero Reece - Broker License #01159191, when we write an offer, we are looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.