Want to purchase a short sale?

If a homeowner is upside down on their mortgage payments, they can sometimes get 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, you can 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 Dublin, California on your own is risky. Contact Provident Realty Group for expert advice.

Are short sales bargains?

Sometimes. Most people hear the words "short sale" and instinctively think of a seller that is in trouble and must sell their house fast to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of 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 current market values, not below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using a qualified REALTOR® from Provident Realty Group to support your research of a property will help you make informed decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating this information can help you make a decision about how much to offer.
  • Get a real estate professional with short sale experience. Provident Realty Group can help expedite the transaction and make certain you're protected. Don't let inexperience slow down the closing process. Let my experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually 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 get approval from 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, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when buying a short sale. The lender will be selling the property just the way it is which means the lender won't be paying for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Provident Realty Group, when I write an offer, I'm looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the outcome of the inspections.
When it is time to buy, whether it's a short sale or a typical home sale, Provident Realty Group is here to help. Utilize my experience and knowledge of real estate to be confident you are getting a fair deal and will be protected during the full process.

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Provident Realty Group

6850 Regional Street Suite 210
Dublin, CA 94568