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. If 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. Many people hear the words "short sale" and routinely think of a seller that is in default and must sell their house quickly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these cases the reduced price may in fact be closer to actual market values instead of below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using a knowledgeable REALTOR® from Cossell Enterprises, Inc to help you research a property can help you make educated decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Locating this info can help you make a decision about how much to offer.
  • Hire a real estate professional with short sale expertise. Cossell Enterprises, Inc can aid you in expediting the transaction and make certain you're protected. Don't allow inexperience to hold up 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. 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 satisfy the seller, but the lender must also agree to the discounted price. A lot of the time your offer will be presented to a committee to approve, 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 working with a short sale. The lender will sell the property just the way it is which means the lender will not be paying for repairs. Be 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 am looking out for your interests first and foremost 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 can help you. Apply my experience and knowledge of real estate to be certain that you are getting a fair deal and will be protected during the entire transaction.

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