Looking to buy a short sale?

When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. Should you have any questions regarding 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.

Can I get a good deal on a short sale?

Occasionally. Most people hear the phrase "short sale" and instinctively think of a seller that is in trouble and needing to sell their property fast to prevent further financial problems. This is at times 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 isn't delinquent with their payments, but property values have fallen. In cases such as these the reduced price may in fact be consistent with actual market values, not below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using a qualified REALTOR® from Cossell Enterprises, Inc to assist you with researching a property can help you make educated decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding this info can help you determine how much to offer.
  • Use a REALTOR® with short sale experience. Cossell Enterprises, Inc can help expedite the transaction and make sure you're protected. Don't permit inexperience to hinder 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 generally take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. A lot of the time your offer will go before 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 normally not negotiable when working with a short sale. The lender will sell the property as seen which means the lender isn't going to pay for repairs. Always 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.
When you're ready to buy, whether it be a short sale or a typical home sale, Cossell Enterprises, Inc can help you. Use my experience and knowledge of real estate to be confident that you're getting a fair deal and are protected during the full deal.

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