Looking 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 consents to release the mortgage for a sum less than what's owed. For more information, just contact me through my site or e-mail me. I'm happy to address any questions you have about real estate short sales.

Purchasing a short sale in Jacksonville, North Carolina on your own is risky. Contact Choice Jacksonville Realty for expert advice.

Can I get a good deal on a short sale?

Sometimes. Most people hear the words "short sale" and automatically think of a seller that is in default and needs to sell their house quickly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on 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 discounted price may in fact be consistent with current market values, not below.

How do I buy a short sale?

  • Always do your homework before making any offers. Using a knowledgeable real estate professional from Choice Jacksonville Realty 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. Getting this info can help you determine how much to offer.
  • Use a real estate professional with short sale expertise. Choice Jacksonville Realty can help expedite 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 with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Know that many 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. In most cases your offer will be presented to 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 typically not negotiable when dealing with a short sale. The lender will be selling the property just the way it is which means the lender will not be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Choice Jacksonville Realty, when I write an offer, I'm looking out for your interests first and will always advise you to make your offer contingent upon the inspection results.
When you're ready to buy, whether it's a short sale or a typical home sale, Choice Jacksonville Realty can help you. Use my experience and knowledge of real estate to be confident that you're getting a fair deal and protect yourself during the full deal.