Purchasing or selling your Albuquerque home

Looking to make a deal on a short sale?

Are short sales bargains?

Occasionally. Many people hear the phrase "short sale" and automatically think of a seller that is in default and must sell their home 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 isn't delinquent with their payments, but property values have declined. In cases such as these the "bargain" price may in fact be consistent with actual market values rather than below.

Are you ready to buy a short sale property?

Always do your homework before making any offers. Using a qualified real estate professional to assist you with researching a property will help you make educated decisions. I 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. Locating this info can help you determine how much to offer.

Hire a Certified Short Sale Specialist, such as myself, with short sale knowledge. This expedite the transaction and ensure that you're protected. Don't allow inexperience to slow down the closing process. Put our 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 usually take longer than a typical real estate transaction. Be informed that many 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 sale terms. Commonly, your offer will be seen by 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 usually non-negotiable when dealing with a short sale. The lender is selling the property "as is" which means the lender will not be paying for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. If you are ready to buy, whether it's a short sale or a typical home sale, I can help. Utilize my experience and knowledge of real estate to feel confident that you are getting a fair deal and are protected during the whole process.