Ready to purchase a short sale?

When a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's owed. For more information, simply 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 Davenport, Oklahoma on your own is risky. Contact All Seasons Realty for expert advice.

Are short sales bargains?

Sometimes. Many people hear the phrase "short sale" and instinctively think of a seller that is in financial trouble and needing to sell their home fast to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these instances the "bargain" price may in fact be consistent with actual market values rather than below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using an experienced real estate professional from All Seasons Realty to support your research of a property will help you make educated decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Locating these facts can help you make a decision about how much to offer.
  • Use a real estate professional with short sale knowledge. All Seasons Realty can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Put my 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 usually 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 be seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are generally non-negotiable when buying a short sale. The lender will be selling the property "as 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 All Seasons Realty, when I write an offer, I'm looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.
When it's time to buy, whether it is a short sale or a typical home sale, All Seasons Realty is available for you. Utilize my experience and knowledge of real estate to be confident you are getting a fair deal and protect yourself during the entire deal.

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