Looking to make a deal on a short sale?


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

Purchasing a short sale in Anaheim Hills, California on your own is risky. Contact First Team Real Estate for expert advice.

Are short sales bargains?

Sometimes. Many people hear the phrase "short sale" and instinctively think of a seller that is in default and needing to sell their house promptly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these instances the reduced price may in fact be consistent with actual market values, not below.

How do I buy a short sale?

Always do your homework before making any offers. Using a qualified REALTOR^® from First Team Real Estate to support your research of a property can help you make knowledgeable 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. Locating this data can help you determine how much to offer.
Hire a REALTOR^® with short sale knowledge. The real estate agents at First Team Real Estate can help expedite the transaction and make certain you're protected. Don't allow inexperience to impede the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best of situations, 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 getting approval from the seller, but the lender must also agree to the sale terms. Commonly, your offer will go before a committee to approve which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when dealing with a short sale. The lender will sell the property just the way it is which means the lender isn't going to pay for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At First Team 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 outcome of the inspections.

If you are ready to buy, whether it be a short sale or a typical home sale, First Team Real Estate can help you. Utilize our experience and knowledge of real estate to be certain you are getting a fair deal and are protected during the complete purchase transaction.