Want to buy a short sale?

A short sale is when the seller's lender consents to collect a reduced payoff to release a mortgage. If 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.

Are they good deals?

Occasionally. Often times people hear the words "short sale" and routinely think of a seller that is in default and must sell their home quickly to avoid further financial problems. This is occasionally 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 with their mortgage, but property values have declined. In cases such as these the "bargain" price may in fact be consistent with true market values, not below.

How do I buy a short sale?

  • Before you make any purchase offers, do your homework. Using an experienced real estate agent from Cossell Enterprises, Inc to assist you with researching 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. Locating this data can help you make a decision about how much to offer.
  • Get a real estate agent with short sale knowledge. Cossell Enterprises, Inc can aid you in expediting the transaction and make sure you're protected. Don't permit inexperience to delay the closing process. Let my experience and knowledge 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. Be informed that most 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 terms of the sale. In most cases 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 typically non-negotiable when dealing with a short sale. The lender is selling the property "as is" which means the lender isn't going to pay for repairs. Be 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 above all else and will always suggest that you make your offer contingent upon the results of the inspections.
If you're ready to buy, whether it be a short sale or a typical home sale, Cossell Enterprises, Inc is available for you. Apply my experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the full purchase transaction.

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