Ready 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.
Are short sales bargains?
From time to time, yes. Most people hear the term "short sale" and instinctively think of a seller that is in default and needing 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 isn't delinquent with their payments, but property values have depreciated. In these cases the reduced price may in fact be in line with true market values instead of below.
What's involved in buying a short sale?
When it's time to buy, whether it is a short sale or a typical home sale,
Mia Howe can help you. Use my experience and knowledge of real estate to feel confident you are getting a fair deal and remain protected during the complete deal.