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Looking to make a deal on a short sale?

A short sale happens when the seller's lender agrees to collect a reduced amount to release a mortgage.

Purchasing a short sale in Randleman, North Carolina on your own is risky. Contact Connection Realty LLC for expert advice.

Are they good deals?

Every now and then a good deal will come along. Most people hear the words "short sale" and routinely think of a seller that is in trouble and must sell their property promptly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In cases such as these the reduced price may in fact be in line with actual market values instead of below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a knowledgeable real estate professional from Connection Realty LLC to help you research a property can help you make educated decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Locating this info can help you decide how much to offer.
  • Use a REALTOR® with short sale knowledge. Connection Realty LLC can help expedite the transaction and ensure that you're protected. Don't permit inexperience to hold up the closing process. Put my knowledge and experience to work for you.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually 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 getting approval from the seller, but the lender must also agree to the discounted price. Commonly, your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are typically non-negotiable when buying a short sale. The lender is selling the property "as is" which means the lender will not be paying for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Connection Realty LLC, when I write an offer, I will be looking out for your interests above all else and will always advise you to make your offer contingent upon the results of the inspections.
When you're ready to buy, whether it be a short sale or a typical home sale, Connection Realty LLC is available for you. Apply my experience and knowledge of real estate to be confident that you are getting a fair deal and are protected during the full deal.

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