Ready to purchase a short sale?

A short sale happens when the homeowner's lender has agreed to collect a reduced payment to release a mortgage. Should you have 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 bargain on a short sale?

From time to time, yes. Most people hear the phrase "short sale" and routinely think of a seller that is in trouble and needs to sell their property quickly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In cases such as these the "bargain" price may in fact be consistent with true market values instead of below.

How do I buy a short sale?

  • Always do your homework before making any offers. Using an experienced real estate professional from Cossell Enterprises, Inc to support your research of 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. Finding this information can help you make a decision about how much to offer.
  • Hire an agent with short sale knowledge. Cossell Enterprises, Inc can aid 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 for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will probably take longer than a typical real estate transaction. Be informed that many short sales will not close in less than 30 days. 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 seen by a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when dealing with a short sale. The lender is selling the property as seen which means the lender won't be paying for repairs. Make 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 first and will always advise you to make your offer contingent upon the results of the inspections.
If you are ready to buy, whether it be a short sale or a typical home sale, Cossell Enterprises, Inc can help. Use my experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the entire purchase transaction.

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