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Ready to purchase a short sale?

A short sale is when the homeowner's lender agrees to accept a reduced payoff to release a mortgage.

Purchasing a short sale in Mineral Wells, Texas on your own is risky. Contact Ender & Associates Realty for expert advice.

Can I get a bargain on a short sale?

Every now and then a good deal will come along. Many people hear the words "short sale" and instinctively think of a seller that is in default and must sell their home fast to avert 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 is current with their mortgage, but property values have declined. In these instances the "bargain" price may in fact be consistent with current market values, not below.

What's involved in buying a short sale?

  • Always do your homework before making any offers. Using a qualified real estate agent from Ender & Associates Realty to assist you with researching a property will help you make educated 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 an agent with short sale experience. Ender & Associates Realty can help expedite the transaction and make certain you're protected. Don't allow inexperience to slow down 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 probably 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 terms of the sale. Commonly, 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 generally non-negotiable when working with a short sale. The lender will be selling the property just the way it is which means the lender isn't going to pay for repairs. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Ender & Associates Realty, when I write an offer, I'm looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the inspection results.
When you're ready to buy, whether it be a short sale or a typical home sale, Ender & Associates Realty is here to help. Utilize my experience and knowledge of real estate to be certain that you are getting a fair deal and will be protected during the complete deal.

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