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Ready to purchase a short sale?

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

Purchasing a short sale in National City, California on your own is risky. Contact Realty World HomeCares for expert advice.

Are short sales good deals?

Sometimes. Often times people hear the phrase "short sale" and routinely think of a seller that is in trouble and needing to sell their property promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. In contrast, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these instances the discounted price may in fact be closer to 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 Realty World HomeCares to support your research of a property will help you make informed 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. Obtaining this information can help you make a decision about how much to offer.
  • Use a real estate agent with short sale knowledge. Realty World HomeCares can help expedite the transaction and make sure you're protected. Don't let inexperience slow down the closing process. Let my experience and knowledge work for you.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will probably take longer than a typical real estate transaction. Know 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. A lot of the time your offer will be sent to 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 generally non-negotiable when buying a short sale. The lender is selling the property just the way it is which means the lender won't be paying for repairs. Make sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Realty World HomeCares, when I write an offer, I'm looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.
If you're ready to buy, whether it be a short sale or a typical home sale, Realty World HomeCares is available for you. Use my experience and knowledge of real estate to make sure you're getting a fair deal and protect yourself during the entire transaction.