Aspen Short Sale Buyer

	If a homeowner 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 a sum less than what's due. For more information, simply contact me through my site or e-mail me. I'm glad to address questions you have regarding real estate short sales.

Are short sales good deals?

Occasionally. Most people hear the phrase "short sale" and routinely think of a seller that is in default and needing to sell their home quickly to avoid 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. Alternatively, 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 reduced price may in fact be in line with actual market values, not below.

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What's involved in buying a short sale?

• Always do your homework before making any offers. Using a knowledgeable real estate professional from Chaffin Light Real Estate to assist you with researching a property can help you make informed decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Having this information can help you make a decision about how much to offer.

• Hire a REALTOR^® with short sale experience. The real estate agents at Chaffin Light Real Estate can help expedite the transaction and make certain you're protected. Don't permit inexperience to hinder the closing process. Put our knowledge and experience to work for you.

• 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 most short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will be seen by a committee to approve which will add time - sometimes even 2 to 3 months.
• Home protection plans, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when dealing with a short sale. The lender will be selling the property as seen which means the lender isn't going to pay for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Chaffin Light Real Estate, when we write an offer, we're looking out for your interests first and will always suggest that you make your offer contingent upon the inspection results.