Ready to buy a short sale?

A short sale means the homeowner's lender consents to get a reduced sum to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm happy to address any questions you have regarding real estate short sales.

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

Are short sales good deals?

Every now and then a good deal will come along. Most people hear the term "short sale" and routinely think of a seller that is insolvent and needing to sell their home fast to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have fallen. In these cases the reduced price may in fact be in line with actual market values rather than below.

How do I buy a short sale?

  • Before making any purchase offers, do your homework. Using an experienced real estate professional from Ender & Associates Realty to assist you with researching a property can help you make educated decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Getting this information can help you make a decision about how much to offer.
  • Use a real estate professional with short sale knowledge. Ender & Associates Realty can assist you in expediting the transaction and make certain you're protected. Don't allow inexperience to slow down the closing process. Put my 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 probably take longer than a typical real estate transaction. Be informed that most short sales will not close in the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. A lot of the time your offer will be seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when buying a short sale. The lender will be selling the property "as is" which means the lender won't be paying for repairs. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Ender & Associates Realty, when I write an offer, I will be 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's time to buy, whether it be a short sale or a typical home sale, Ender & Associates Realty is available for you. Utilize my experience and knowledge of real estate to be confident that you are getting a fair deal and will be protected during the entire purchase transaction.

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