Looking to make a deal on a short sale?

When a homeowner 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 a sum less than what's owed. For more information, you can contact me through my site or e-mail me. I'm glad to answer any questions you have about real estate short sales.

Purchasing a short sale in Seaville, New Jersey on your own is risky. Contact Rixon Realty for expert advice.

Can I get a good deal on a short sale?

Occasionally. Often times people hear the term "short sale" and automatically think of a seller that is in trouble and needs to sell their home promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to take advantage of another's misfortune. Alternatively, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In these instances the "bargain" price may in fact be in line with actual market values rather than below.

Are you ready to buy a short sale property?
  • Always do your homework before making any offers. Using a qualified real estate agent from Rixon Realty to assist you with researching a property can help you make knowledgeable decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Having these facts can help you decide how much to offer.
  • Get a real estate professional with short sale knowledge. The real estate agents at Rixon Realty can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to impede the closing process. Put our knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that most 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. A lot of the time your offer will go before 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 typically not negotiable when working with a short sale. The lender is selling the property as seen which means the lender will not be paying for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Rixon Realty, when we write an offer, we are looking out for your interests above all else and will always recommend that you make your offer contingent upon the inspection results.
If you're ready to buy, whether it be a short sale or a typical home sale, Rixon Realty is available for you. Utilize our experience and knowledge of real estate to make sure you're getting a fair deal and are protected during the entire transaction.

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