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Ready to purchase a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. For more information, you can contact me through my site or e-mail me. I'm glad to answer questions you have regarding real estate short sales.

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?

Every now and then a good deal will come along. Often times people hear the words "short sale" and routinely think of a seller that is in default and must sell their house fast to prevent further financial problems. This is at times 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 is current with their mortgage, but property values have depreciated. In cases such as these the "bargain" price may in fact be closer to actual market values instead of below.

How do I buy a short sale?

  • Always do your homework before making any offers. Using an experienced real estate professional from Remax Components to help you research a property can help you make informed decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating these facts can help you make a decision about how much to offer.
  • Use a real estate professional with short sale expertise. Remax Components can help expedite the transaction and ensure that you're protected. Don't allow inexperience to hinder the closing process. Put my experience and knowledge to work in your favor.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that many short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be presented to a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when working with a short sale. The lender will be selling the property "as is" which means the lender isn't going to pay for repairs. Be sure to 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 will always suggest that you make your offer contingent upon the outcome of the inspections.
When it's time to buy, whether it is a short sale or a typical home sale, Remax Components can help. Apply my experience and knowledge of real estate to be confident you're getting a fair deal and are protected during the complete purchase transaction.