Want to make a deal on a short sale?
When a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's due.
Are short sales bargains?
The short answer is "sometimes". Often times people hear the phrase "short sale" and instinctively think of a seller that is in default and needing to sell their property fast to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In cases such as these the "bargain" price may in fact be in line with current market values instead of below.
What's involved in buying a short sale?
If you are ready to buy, whether it's a short sale or a typical home sale,
J. Briann Realty Group, Inc. is here to help. Utilize my experience and knowledge of real estate to feel confident you are getting a fair deal and protect yourself during the full deal.
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