Looking to make a deal on a short sale?
When a seller owes more on their home than its value, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's owed.
Are they good deals?
Sometimes. Often times people hear the phrase "short sale" and routinely think of a seller that is in default and needs to sell their house promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these instances the "bargain" price may in fact be in line with true market values, not below.
How do I buy a short sale?
If you're ready to buy, whether it is a short sale or a typical home sale,
Mia Howe Realty can help you. Utilize my experience and knowledge of real estate to be confident that you are getting a fair deal and protect yourself during the whole deal.