Looking to purchase a short sale?

When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. Should you have questions about real estate in Bucklin, Kansas, contact me here or e-mail me.

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

Are short sales bargains?

From time to time, yes. Many people hear the term "short sale" and automatically think of a seller that is in trouble and needing to sell their home quickly 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 with their mortgage, but property values have depreciated. In these instances the "bargain" price may in fact be closer to actual market values instead of below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a qualified REALTOR® from Cossell Enterprises, Inc to support your research of a property will help you make informed 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. Getting this info can help you decide how much to offer.
  • Hire a real estate professional with short sale expertise. Cossell Enterprises, Inc can assist you in expediting the transaction and make sure you're protected. Don't let inexperience hold up the closing process. Let my experience and knowledge work in your favor.

  • 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 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. In most cases your offer will be presented to a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are generally not negotiable when working with a short sale. The lender will sell the property as seen which means the lender will not be paying for repairs. Be sure to reserve the right to have 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 advise you to 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, Cossell Enterprises, Inc can help. Use my experience and knowledge of real estate to be confident that you're getting a fair deal and protect yourself during the whole purchase transaction.

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