Looking to make a deal on a short sale?


	When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.

Purchasing a short sale in Celebration, Florida on your own is risky. Contact Remax Marketplace for expert advice.

Can I get a bargain on a short sale?

Sometimes. Most people hear the term "short sale" and automatically think of a seller that is in default 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 make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have declined. In these cases the reduced price may in fact be in line with actual market values, not below.

How do I buy a short sale?

Always do your homework before making any offers. Using an experienced REALTOR^® from Remax Marketplace to assist you with researching a property will help you make educated decisions. We can help learn to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you make a decision about how much to offer.
Use a real estate agent with short sale experience. The real estate agents at Remax Marketplace can help expedite the transaction and make sure you're protected. Don't permit inexperience to hold up the closing process. Put our experience and knowledge to work in your favor.
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. Be aware 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 discounted price. It's not uncommon that your offer will be seen by a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are usually not negotiable when working with a short sale. The lender will be selling the property as seen which means the lender isn't going to pay for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Remax Marketplace, when we write an offer, we are looking out for your interests first and will always suggest that you make your offer contingent upon the outcome of the inspections.

When it is time to buy, whether it be a short sale or a typical home sale, Remax Marketplace can help you. Use our experience and knowledge of real estate to feel confident that you are getting a fair deal and are protected during the complete process.

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