Looking to buy a short sale?

If a homeowner is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's owed. For more information, just contact me through my site or e-mail me. I'm glad to address questions you have about real estate short sales.

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. Most people hear the words "short sale" and automatically think of a seller that is in financial trouble and needs to sell their house promptly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on 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 instances the "bargain" price may in fact be consistent with actual market values instead of below.

What's involved in buying a short sale?

  • Always do your homework before making any offers. Using a qualified real estate agent from Cossell Enterprises, Inc to support your research of a property can help you make informed decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting this information can help you make a decision about how much to offer.
  • Hire an agent with short sale experience. Cossell Enterprises, Inc can aid you in expediting the transaction and ensure that 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 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. Commonly, your offer will be seen by 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 typically not negotiable when dealing with a short sale. The lender will be selling the property as seen which means the lender won't be paying for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Cossell Enterprises, Inc, when I write an offer, I'm looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.
If you're ready to buy, whether it be a short sale or a typical home sale, Cossell Enterprises, Inc can help. Utilize my experience and knowledge of real estate to be certain that you are getting a fair deal and protect yourself during the entire purchase transaction.

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