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Looking to make a deal on a short sale?

A short sale means the seller's lender consents to collect a reduced amount to release a mortgage. For more information, just contact me through my site or e-mail me. I'm happy to address any questions you have regarding real estate short sales.

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

Can I get a good deal on a short sale?

Sometimes. Many people hear the words "short sale" and routinely think of a seller that is insolvent and needing to sell their house quickly to prevent further financial problems. This is sometimes 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 with their mortgage, but property values have fallen. In these instances the discounted price may in fact be closer to current market values instead of below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a qualified real estate professional from Connection Realty LLC to help you research a property can help you make knowledgeable decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Finding these facts can help you decide how much to offer.
  • Hire a REALTOR® with short sale experience. Connection Realty LLC can assist you in expediting the transaction and make sure you're protected. Don't allow inexperience to hold up the closing process. Let my experience and knowledge work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. It's not uncommon that your offer will be presented to a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when buying a short sale. The lender is selling the property "as is" which means the lender won't 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 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, Connection Realty LLC can help. Use my experience and knowledge of real estate to be confident that you're getting a fair deal and remain protected during the entire purchase transaction.

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