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Looking to buy a short sale?

A short sale happens when the homeowner's lender agrees to collect a reduced sum to release a mortgage. For more information, just contact me through my site or e-mail me. I'm glad to answer questions you have regarding real estate short sales.

Purchasing a short sale in Gatesville, Texas on your own is risky. Contact Kristi's Properties for expert advice.

Can I get a bargain on a short sale?

Occasionally. Often times people hear the phrase "short sale" and routinely think of a seller that is in default and needing to sell their property promptly to avoid 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, but property values have depreciated. In these cases the "bargain" price may in fact be closer to actual market values, not below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a qualified real estate agent from Kristi's Properties to assist you with researching a property can help you make knowledgeable decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring these facts can help you determine how much to offer.
  • Get an agent with short sale experience. Kristi's Properties can assist you in expediting the transaction and ensure that you're protected. Don't let inexperience 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 usually take longer than a typical real estate transaction. Know 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 sale terms. It's not uncommon that 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 buying a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Kristi's Properties, when I write an offer, I will be looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the outcome of the inspections.
If you are ready to buy, whether it is a short sale or a typical home sale, Kristi's Properties is available for you. Apply my experience and knowledge of real estate to feel confident you're getting a fair deal and are protected during the whole deal.

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