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Looking to make a deal on a short sale?

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

Purchasing a short sale in Mineral Wells, Texas on your own is risky. Contact Ender & Associates Realty 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 needs to sell their house fast to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to do well from 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 closer to true market values, not below.

Are you ready to buy a short sale property?

  • Before you make any purchase offers, do your homework. Using a knowledgeable real estate professional from Ender & Associates Realty to help you research a property can help you make educated decisions. We can help reveal to whom the property is titled, the balance still 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.
  • Hire a REALTOR® with short sale experience. Ender & Associates Realty can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Put my experience and knowledge to work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the sale terms. In most cases 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 non-negotiable when working with a short sale. The lender will sell the property as seen 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 Ender & Associates Realty, when I write an offer, I'm looking out for your interests first and foremost and will always advise you to make your offer contingent upon the results of the inspections.
When it is time to buy, whether it is a short sale or a typical home sale, Ender & Associates Realty can help. Use my experience and knowledge of real estate to be confident you're getting a fair deal and will be protected during the whole matter.

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