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Ready to purchase a short sale?

When a seller owes more on their home 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 owed. For more information, just contact me through my site or e-mail me. I'm glad to address questions you have about real estate short sales.

Purchasing a short sale in Murfreesboro, Tennessee on your own is risky. Contact Masterson Network for expert advice.

Can I get a good deal on a short sale?

Occasionally. Most people hear the words "short sale" and routinely think of a seller that is insolvent and needs to sell their house promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these cases the discounted price may in fact be in line with true market values, not below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using an experienced REALTOR® from Masterson Network to assist you with researching a property will help you make informed decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you determine how much to offer.
  • Get a REALTOR® with short sale expertise. Masterson Network can assist you in expediting the transaction and ensure that you're protected. Don't permit inexperience to impede the closing process. Put my knowledge and experience to work for you.

  • 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. Be informed that most short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will go before 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 negotiable when working with a short sale. The lender will be selling the property as seen which means the lender isn't going to pay for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Masterson Network, 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 inspection results.
When it's time to buy, whether it be a short sale or a typical home sale, Masterson Network can help. Utilize my experience and knowledge of real estate to make sure that you are getting a fair deal and remain protected during the full matter.

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