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Want 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 due. For more information, simply contact me through my site or e-mail me. I'm happy to answer any 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.

Are short sales good deals?

Occasionally. Often times people hear the words "short sale" and routinely think of a seller that is in default and needs to sell their home fast to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the "bargain" price may in fact be closer to actual market values rather than below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using an experienced real estate professional from Kristi's Properties to assist you with researching a property can help you make educated decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating these facts can help you determine how much to offer.
  • Get a REALTOR® with short sale experience. Kristi's Properties can help expedite the transaction and ensure that you're protected. Don't allow inexperience to impede the closing process. Let my experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Know that many short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be seen by a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are typically not negotiable when buying a short sale. The lender will sell the property just the way it is which means the lender isn't going to pay for repairs. Always 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'm looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.
When it is time to buy, whether it be a short sale or a typical home sale, Kristi's Properties can help you. Use my experience and knowledge of real estate to feel confident that you are getting a fair deal and remain protected during the whole transaction.

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