Looking to purchase a short sale?


	A short sale happens when the seller's lender consents to collect a reduced payment to release a mortgage. Should you have any questions about real estate in Cumming, Georgia, contact me here or e-mail me.

Purchasing a short sale in Cumming, Georgia on your own is risky. Contact Team Soltau Realty for expert advice.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Many people hear the words "short sale" and routinely think of a seller that is in financial trouble and must sell their home quickly to avoid further financial problems. This is at times 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 cases the discounted price may in fact be in line with actual market values, not below.

How do I buy a short sale?

Always do your homework before making any offers. Using an experienced REALTOR^® from Team Soltau Realty to support your research of a property can help you make informed decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this data can help you decide how much to offer.
Use an agent with short sale experience. The real estate agents at Team Soltau Realty can help expedite the transaction and make sure you're protected. Don't allow inexperience to delay the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Know 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. It's not uncommon that 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 normally non-negotiable when dealing with a short sale. The lender will sell the property "as is" which means the lender will not be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Team Soltau Realty, when we write an offer, we will be looking out for your interests above all else and will always recommend that you make your offer contingent upon the results of the inspections.

If you are ready to buy, whether it is a short sale or a typical home sale, Team Soltau Realty is here to help. Use our experience and knowledge of real estate to feel confident that you are getting a fair deal and protect yourself during the whole transaction.