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Want to buy a short sale?

If 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 an amount less than what's owed. For more information, simply contact me through my site or e-mail me. I'm glad to answer questions you have regarding real estate short sales.

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

Can I get a bargain on a short sale?

From time to time, yes. Often times people hear the term "short sale" and automatically think of a seller that is in financial trouble and needing to sell their property fast to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to take advantage of another's misfortune. In contrast, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these cases the discounted price may in fact be in line with current market values rather than below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a qualified real estate agent from Century 21 Judge Fite Company to assist you with researching a property can help you make knowledgeable decisions. We can help learn to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you decide 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 certain you're protected. Don't permit inexperience to hinder the closing process. Let my experience and knowledge work for you.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that a majority of 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 seen by a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are generally non-negotiable when dealing with a short sale. The lender will sell the property just the way it is which means the lender will not be paying for repairs. Make sure to 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 will be looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.
If you're ready to buy, whether it is a short sale or a typical home sale, Century 21 Judge Fite Company can help. Utilize my experience and knowledge of real estate to make sure that you're getting a fair deal and remain protected during the entire transaction.