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 a house, it's called a short sale. If you have any questions regarding real estate in Murphy, North Carolina, contact me here or e-mail me.

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

Can I get a good deal on a short sale?

The short answer is "sometimes". Often times people hear the term "short sale" and routinely think of a seller that is insolvent and needs to sell their property promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have declined. In cases such as these the "bargain" price may in fact be in line with true market values rather than below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using an experienced real estate agent from Coldwell Banker High Country Realty to help you research a property will help you make educated decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this data can help you determine how much to offer.
  • Use an agent with short sale experience. Coldwell Banker High Country Realty can help expedite the transaction and make certain you're protected. Don't permit inexperience to hold up the closing process. Put my experience and knowledge to work in your favor.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Know that a majority of short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will go before 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 not negotiable when working with a short sale. The lender will sell the property as seen which means the lender won't be paying for repairs. Be 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 recommend that you make your offer contingent upon the outcome of the inspections.
When you are ready to buy, whether it be a short sale or a typical home sale, Coldwell Banker High Country Realty can help. Utilize my experience and knowledge of real estate to be confident you are getting a fair deal and are protected during the entire deal.

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