Ready to buy 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.
Are short sales bargains?
The short answer is "sometimes". Many people hear the term "short sale" and instinctively think of a seller that is in financial trouble and needs to sell their property quickly 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 is current with their mortgage, but property values have fallen. In these instances the discounted price may in fact be closer to true market values rather than below.
How do I buy a short sale?
When it's time to buy, whether it be a short sale or a typical home sale,
Coast to Coast Property Brokers can help. Utilize my experience and knowledge of real estate to be certain you are getting a fair deal and will be protected during the whole deal.