Looking to make a deal on a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.

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". Many people hear the phrase "short sale" and routinely think of a seller that is insolvent and must sell their home fast to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have fallen. In these instances the discounted price may in fact be closer to true market values instead of below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using an experienced real estate agent from Cossell Enterprises, Inc to support your research of a property will help you make informed decisions. We can help learn to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this info can help you decide how much to offer.
  • Get a REALTOR® with short sale experience. Cossell Enterprises, Inc can aid you in expediting the transaction and make sure you're protected. Don't permit inexperience to hold up the closing process. Let my experience and knowledge work for you.

  • 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. Be informed that a majority of short sales will not close in 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 discounted price. In most cases your offer will go before a committee to approve, 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 dealing with a short sale. The lender will be selling the property "as is" which means the lender will not be paying for repairs. Make sure you 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 suggest that you make your offer contingent upon the inspection results.
If you're ready to buy, whether it's a short sale or a typical home sale, Cossell Enterprises, Inc is here to help. Utilize my experience and knowledge of real estate to be confident that you are getting a fair deal and remain protected during the entire matter.

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