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Ready to buy a short sale?

When 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 owed.

Purchasing a short sale in Bucklin, Kansas on your own is risky. Contact Cossell Enterprises, Inc for expert advice.

Can I get a good deal on a short sale?

The short answer is "sometimes". Often times people hear the term "short sale" and instinctively think of a seller that is in default and must sell their house fast to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have fallen. In these instances the "bargain" price may in fact be consistent with current market values, not below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a knowledgeable real estate agent from Cossell Enterprises, Inc to help you research a property will help you make knowledgeable decisions. We can help learn to whom the property is titled, how much is 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.
  • Hire a REALTOR® with short sale knowledge. Cossell Enterprises, Inc can assist you in expediting the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Put my experience and knowledge to work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will probably take longer than a typical real estate transaction. Be aware 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 sale terms. It's not uncommon that your offer will go before a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when dealing with a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Be sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Cossell Enterprises, Inc, when I write an offer, I'm looking out for your interests above all else and will always recommend that you make your offer contingent upon the inspection results.
If you are ready to buy, whether it is a short sale or a typical home sale, Cossell Enterprises, Inc is here to help. Apply my experience and knowledge of real estate to be confident you are getting a fair deal and are protected during the whole process.

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