Ready to make a deal on a short sale?

A short sale happens when the seller's lender agrees to collect a reduced payment to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm happy to address questions you have regarding real estate short sales.

Purchasing a short sale in Murphy, North Carolina on your own is risky. Contact Coldwell Banker High Country Realty for expert advice.

Are short sales good deals?

Sometimes. Most people hear the term "short sale" and routinely think of a seller that is in trouble and must sell their property promptly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have declined. In these instances the discounted price may in fact be closer to true market values, not below.

Are you ready to buy a short sale property?

  • Always do your homework before making any offers. Using a knowledgeable real estate professional from Coldwell Banker High Country Realty to support your research of a property can help you make educated decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having these facts can help you determine how much to offer.
  • Hire a REALTOR® with short sale knowledge. Coldwell Banker High Country Realty can aid you in expediting the transaction and make sure you're protected. Don't allow inexperience to slow down the closing process. Put my knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will be presented to a committee for approval, 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 isn't going to pay for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Coldwell Banker High Country Realty, when I write an offer, I am looking out for your interests first and will always advise you to make your offer contingent upon the results of the inspections.
If you are ready to buy, whether it be a short sale or a typical home sale, Coldwell Banker High Country Realty can help you. Apply my experience and knowledge of real estate to feel confident you are getting a fair deal and protect yourself during the entire transaction.

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