Want to purchase a short sale?
When a homeowner is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's owed.
Are they good deals?
Occasionally. Many people hear the phrase "short sale" and automatically think of a seller that is in financial trouble and needing to sell their home fast to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In these instances the reduced price may in fact be consistent with actual market values instead of below.
How do I buy a short sale?
When you are ready to buy, whether it be a short sale or a typical home sale,
Coast to Coast Property Brokers is available for you. Utilize my experience and knowledge of real estate to be confident that you're getting a fair deal and protect yourself during the whole matter.