Ready to make a deal on a short sale?

	When a lender and a homeowner 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?

• Always do your homework before making any offers. Using a qualified REALTOR^® from Client First Real Estate to support your research of a property will help you make educated 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. Acquiring this info can help you determine how much to offer.

• Hire an agent with short sale expertise. The real estate agents at Client First Real Estate can aid you in expediting the transaction and make certain you're protected. Don't let inexperience impede the closing process. Let our 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 probably take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be sent to a committee to approve which will add time - sometimes even 2 to 3 months.
• Home warranties, buyer credits and allowances, and closing cost concessions are typically non-negotiable when buying a short sale. The lender will sell the property just the way it is which means the lender won't be paying for repairs. Make sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Client First Real Estate, when we write an offer, we are looking out for your interests above all else and will always recommend that you make your offer contingent upon the inspection results.