Looking to purchase 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. If you have any questions regarding real estate in Charlottesville, Virginia, contact me here or e-mail me.

Purchasing a short sale in Charlottesville, Virginia on your own is risky. Contact Virginia Real Estate Solutions at Remax Assured Properties for expert advice.

Are short sales good deals?

Every now and then a good deal will come along. Most people hear the term "short sale" and instinctively think of a seller that is in default and needing to sell their home promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have declined. In cases such as these the "bargain" price may in fact be closer to true market values, not below.

Are you ready to buy a short sale property?

Before making any purchase offers, do your homework. Using a knowledgeable REALTOR^® from Virginia Real Estate Solutions at Remax Assured Properties to support your research of a property will help you make informed 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. Getting this info can help you make a decision about how much to offer.
Hire a real estate agent with short sale experience. The real estate agents at Virginia Real Estate Solutions at Remax Assured Properties can help expedite the transaction and ensure that you're protected. Don't permit inexperience to slow down 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 generally take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be presented to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when working with a short sale. The lender will be selling the property as seen which means the lender will not be paying for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Virginia Real Estate Solutions at Remax Assured Properties, when we write an offer, we are looking out for your interests above all else and will always advise you to make your offer contingent upon the inspection results.

When it's time to buy, whether it's a short sale or a typical home sale, Virginia Real Estate Solutions at Remax Assured Properties is here to help. Use our experience and knowledge of real estate to be confident that you're getting a fair deal and will be protected during the whole matter.

Virginia Real Estate Solutions at Remax Assured Properties 943 Glenwood Station Lane Suite 202 Charlottesville, VA 22901

Phone: Fax:

Copyright © 2012 Virginia Real Estate Solutions at Remax Assured Properties
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.