Want to Make a Deal on a Short Sale?

If a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's due. For more information, just contact me through my site or e-mail me. I'm happy to answer questions you have about real estate short sales.

Purchasing a short sale in Piedmont Triad Area, North Carolina on your own is risky. Contact Realty Group of the Triad for expert advice.

Is it a Good Deal?

Occasionally. Many people hear the words "short sale" and routinely think of a seller that is insolvent and needs to sell their home fast to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these instances the reduced price may in fact be consistent with current market values instead of below.

What's involved in buying a short sale?

  • Before you make any purchase offers, do your homework. Using a qualified real estate agent from Realty Group of the Triad to assist you with researching a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding this info can help you decide how much to offer.
  • Hire a REALTOR? with short sale knowledge. Realty Group of the Triad can assist you in expediting the transaction and ensure that you're protected. Don't allow inexperience to impede the closing process. Let my experience and knowledge 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 most short sales will not close in 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. Commonly, your offer will be sent to a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when dealing with a short sale. The lender will be selling the property just the way it is which means the lender won't be paying for repairs. Be sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Realty Group of the Triad, 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 inspection results.

If you are ready to buy, whether it is a short sale or a typical home sale, Realty Group of the Triad is available for you. Utilize my experience and knowledge of real estate to make sure you're getting a fair deal and will be protected during the full matter.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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REALTY GROUP OF THE TRIAD, Inc.

2554 Lewisville Clemmons Road, Suite #306-A
Clemmons, NC 27012