Want to buy a short sale?

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

Can I get a good deal on a short sale?

• Before making any purchase offers, do your research. Using a qualified REALTOR^® from Home Solutions Real Estate to assist you with researching 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. Getting these facts can help you make a decision about how much to offer.

• Hire an agent with short sale knowledge. The real estate agents at Home Solutions Real Estate can aid you in expediting the transaction and make certain you're protected. Don't permit inexperience to hinder the closing process. Put our 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 generally take longer than a typical real estate transaction. Be informed that many short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the sale terms. In most cases your offer will be presented to 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 generally not up for negotiation when dealing with a short sale. The lender is selling the property as seen which means the lender isn't going to pay for repairs. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Home Solutions Real Estate, when we write an offer, we 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.