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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 happy to address 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.

Are short sales good deals?

Occasionally. Most people hear the phrase "short sale" and automatically think of a seller that is in financial trouble and must sell their home promptly to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these instances the discounted price may in fact be in line with true market values instead of below.

How do I buy a short sale?

  • Before making any purchase offers, do your homework. Using a knowledgeable REALTOR® from Ender & Associates Realty to assist you with researching a property will help you make informed decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this data can help you decide how much to offer.
  • Use a real estate agent with short sale expertise. Ender & Associates Realty can help expedite the transaction and make certain you're protected. Don't permit inexperience to impede the closing process. Put my knowledge and experience to work for you.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that many short sales will not close in 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. In most cases your offer will be presented to a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are normally not up for negotiation when buying a short sale. The lender is selling the property "as is" which means the lender won't be paying for repairs. Always reserve the right to perform inspections 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 will always advise you to make your offer contingent upon the results of the inspections.
When you're ready to buy, whether it's a short sale or a typical home sale, Ender & Associates Realty can help you. Utilize my experience and knowledge of real estate to feel confident you are getting a fair deal and remain protected during the full matter.

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