Looking to buy a short sale?


	When a lender and a seller agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, simply contact me through my site or e-mail me. I'm glad to answer any questions you have regarding real estate short sales.

Purchasing a short sale in midvale, Utah on your own is risky. Contact Coldwell Banker Residential Brokerage Union Heights for expert advice.

Are they good deals?

The short answer is "sometimes". Most people hear the words "short sale" and routinely think of a seller that is in trouble and needs to sell their house quickly to avoid further financial problems. This is sometimes 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 is current with their mortgage, but property values have fallen. In these cases the "bargain" price may in fact be in line with true market values rather than below.

Are you ready to buy a short sale property?

Before you make any purchase offers, do your homework. Using an experienced REALTOR^® from Coldwell Banker Residential Brokerage Union Heights to support your research of a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you determine how much to offer.
Get an agent with short sale expertise. The real estate agents at Coldwell Banker Residential Brokerage Union Heights can help expedite the transaction and ensure that you're protected. Don't permit inexperience to hold up 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 probably take longer than a typical real estate transaction. Know that most short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. In most cases your offer will be seen by 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 usually not up for negotiation when dealing with a short sale. The lender will sell the property as seen which means the lender will not be paying for repairs. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Coldwell Banker Residential Brokerage Union Heights, when we write an offer, we're looking out for your interests first and will always suggest that you make your offer contingent upon the outcome of the inspections.

If you're ready to buy, whether it is a short sale or a typical home sale, Coldwell Banker Residential Brokerage Union Heights is here to help. Use our experience and knowledge of real estate to be certain that you are getting a fair deal and remain protected during the full deal.