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Want to buy a short sale?

A short sale is when the homeowner's lender has agreed to get a reduced sum to release a mortgage. If you have any questions about real estate in Randleman, North Carolina, contact me here or e-mail me.

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

Are short sales good deals?

Sometimes. Often times people hear the words "short sale" and automatically think of a seller that is in financial trouble and needing to sell their home quickly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these cases the reduced price may in fact be in line with true market values instead of below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using an experienced REALTOR® from Connection Realty LLC to support your research of a property will 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. Locating this info can help you make a decision about how much to offer.
  • Use a real estate professional with short sale expertise. Connection Realty LLC can assist you in expediting the transaction and ensure that you're protected. Don't permit inexperience to impede the closing process. Let my experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally 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 discounted price. Commonly, your offer will be seen by 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 usually not up for negotiation when buying a short sale. The lender will sell the property just the way it 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 am looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.
When it is time to buy, whether it be a short sale or a typical home sale, Connection Realty LLC can help you. Utilize my experience and knowledge of real estate to be certain that you are getting a fair deal and will be protected during the full matter.

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