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Want to purchase a short sale?

A short sale means the homeowner's lender agrees to get a reduced amount to release a mortgage. If you have any questions regarding real estate in Maryland, Maryland, contact me here or e-mail me.

Purchasing a short sale in Maryland, Maryland on your own is risky. Contact Remax Components for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Most people hear the phrase "short sale" and instinctively think of a seller that is insolvent and must sell their home fast to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In these cases the reduced price may in fact be consistent with actual market values instead of below.

How do I buy a short sale?

  • Prior to making any purchase offers, do your homework. Using a knowledgeable real estate agent from Remax Components to support your research of a property can help you make knowledgeable decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you make a decision about how much to offer.
  • Get a REALTOR® with short sale expertise. Remax Components can aid you in expediting the transaction and make certain you're protected. Don't allow inexperience to slow down the closing process. Put my knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best circumstances, 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 the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will be seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are usually non-negotiable when buying a short sale. The lender is selling the property "as is" which means the lender isn't going to pay for repairs. Be sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Remax Components, when I write an offer, I am looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.
If you're ready to buy, whether it's a short sale or a typical home sale, Remax Components can help. Apply my experience and knowledge of real estate to be certain that you are getting a fair deal and remain protected during the whole transaction.



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