Ready to make a deal on a short sale?
If a seller owes more on their house than its value, 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, you can contact us
through our site or e-mail us
. We're glad to answer questions you have regarding real estate short sales.
Are they good deals?
The short answer is "sometimes". Many people hear the term "short sale" and instinctively think of a seller that is in trouble and needing to sell their house promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most 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 fallen. In these cases the discounted price may in fact be closer to true market values, not below.
What's involved in buying a short sale?
When you're ready to buy, whether it is a short sale or a typical home sale, Bill Lee & Associates, Inc. Realtors can help you. Use our experience and knowledge of real estate to feel confident you're getting a fair deal and will be protected during the full process.