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Ready to purchase a short sale?

A short sale happens when the seller's lender agrees to collect a reduced payment to release a mortgage.

Purchasing a short sale in Denton, Texas on your own is risky. Contact Century 21 Judge Fite Company for expert advice.

Are short sales good deals?

Sometimes. Most people hear the phrase "short sale" and routinely think of a seller that is in trouble and needs to sell their property quickly to prevent further financial problems. This is occasionally 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 declined. In cases such as these the "bargain" price may in fact be closer to true market values rather than below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a knowledgeable real estate professional from Century 21 Judge Fite Company to support your research of a property will help you make educated decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you make a decision about how much to offer.
  • Get a real estate agent with short sale knowledge. Century 21 Judge Fite Company can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to hold up 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 generally take longer than a typical real estate transaction. Be informed that many short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the sale terms. In most cases your offer will be presented to a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are normally not negotiable when buying a short sale. The lender is selling the property "as is" which means the lender isn't going to pay for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Century 21 Judge Fite Company, when I write an offer, I am looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.
When it is time to buy, whether it be a short sale or a typical home sale, Century 21 Judge Fite Company is here to help. Use my experience and knowledge of real estate to feel confident that you are getting a fair deal and remain protected during the entire purchase transaction.