Ready to make a deal on a short sale?

When a seller owes more on their house 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, you can contact me through my site or e-mail me. I'm glad to answer any questions you have about real estate short sales.

Purchasing a short sale in Dublin, California on your own is risky. Contact Provident Realty Group for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Often times people hear the phrase "short sale" and instinctively think of a seller that is in default and must sell their home promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from 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 discounted price may in fact be consistent with true market values instead of below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using an experienced real estate agent from Provident Realty Group to help you research a property can help you make knowledgeable decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding this info can help you make a decision about how much to offer.
  • Use a real estate professional with short sale knowledge. Provident Realty Group can aid you in expediting the transaction and make certain you're protected. Don't let inexperience delay the closing process. Put my experience and knowledge to work in your favor.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that a majority of 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 terms of the sale. Commonly, your offer will be seen by a committee for approval, 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 dealing with a short sale. The lender will sell the property just the way it is which means the lender won't be paying for repairs. Make sure to 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 above all else and will always suggest that you make your offer contingent upon the outcome of the inspections.
When you are ready to buy, whether it is a short sale or a typical home sale, Provident Realty Group is available for you. Utilize my experience and knowledge of real estate to be certain you're getting a fair deal and remain protected during the whole matter.

Provident Realty Group

6850 Regional Street Suite 210
Dublin, CA 94568