Want to buy a short sale?

	When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.

Can I get a good deal on a short sale?

• Prior to making any purchase offers, do your research. Using a knowledgeable real estate agent from Sellstate Professional Real Estate DRE#01524667 to support your research of a property can help you make knowledgeable decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you decide how much to offer.

• Use a real estate professional with short sale expertise. The real estate agents at Sellstate Professional Real Estate DRE#01524667 can aid you in expediting the transaction and make sure you're protected. Don't allow inexperience to hinder 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 probably take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only getting 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 presented to a committee for approval which will add time - sometimes even 2 to 3 months.
• Home warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when buying a short sale. The lender will sell the property "as is" which means the lender isn't going to pay for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Sellstate Professional Real Estate DRE#01524667, when we write an offer, we're looking out for your interests first and will always advise you to make your offer contingent upon the results of the inspections.