Looking to buy a short sale?


	A short sale is when the homeowner's lender agrees to accept a reduced sum to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm happy to answer any questions you have about real estate short sales.

Purchasing a short sale in Las Vegas, Nevada on your own is risky. Contact Realty ONE Group for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Often times people hear the term "short sale" and automatically think of a seller that is insolvent and needs to sell their house fast to avert further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on 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 depreciated. In cases such as these the discounted price may in fact be consistent with true market values instead of below.

What's involved in buying a short sale?

Always do your homework before making any offers. Using an experienced real estate professional from Realty ONE Group to help you research a property will help you make educated 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. Finding these facts can help you decide how much to offer.
Get a real estate agent with short sale experience. The real estate agents at Realty ONE Group can assist you in expediting the transaction and make certain you're protected. Don't allow inexperience to impede the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Know 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 sale terms. A lot of the time your offer will be presented to 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 normally non-negotiable when dealing with a short sale. The lender is selling the property "as is" which means the lender isn't going to pay for repairs. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Realty ONE Group, when we write an offer, we will be looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.

When you're ready to buy, whether it's a short sale or a typical home sale, Realty ONE Group can help. Use our experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the whole process.