Ready to buy a short sale?

If a homeowner is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's due. For more information, just 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 Dublin, California on your own is risky. Contact Provident Realty Group for expert advice.

Are they good deals?

Every now and then a good deal will come along. Often times people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and needing to sell their home quickly to avoid further financial problems. This is at times 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 isn't delinquent with their payments, but property values have fallen. In these instances the "bargain" price may in fact be consistent with true market values rather than below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using a qualified real estate professional from Provident Realty Group to support your research of a property will help you make informed decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you decide how much to offer.
  • Get a real estate professional with short sale expertise. Provident Realty Group can help expedite the transaction and make certain you're protected. Don't let inexperience delay 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 a majority of short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will go before a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when working with a short sale. The lender is selling the property just the way it is which means the lender isn't going to pay for repairs. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Provident Realty Group, when I write an offer, I am looking out for your interests first and will always recommend that you make your offer contingent upon the outcome of the inspections.
When you're ready to buy, whether it be a short sale or a typical home sale, Provident Realty Group is here to help. Use my experience and knowledge of real estate to feel confident that you're getting a fair deal and remain protected during the whole transaction.

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Provident Realty Group

6850 Regional Street Suite 210
Dublin, CA 94568