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Ready to make a deal on a short sale?

A short sale means the homeowner's lender agrees to get a reduced amount to release a mortgage. For more information, just contact me through my site or e-mail me. I'm glad to address questions you have about real estate short sales.

Purchasing a short sale in Sunset Beach, North Carolina on your own is risky. Contact Fred Thorne Realty LLC for expert advice.

Are short sales good deals?

The short answer is "sometimes". Many people hear the words "short sale" and instinctively think of a seller that is in default and needs to sell their property quickly to prevent further financial problems. This is at times 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, but property values have depreciated. In these cases the discounted price may in fact be closer to true market values, not below.

What's involved in buying a short sale?

  • Before you make any purchase offers, do your research. Using a knowledgeable real estate professional from Fred Thorne Realty LLC to support your research of a property will help you make educated decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you decide how much to offer.
  • Use a real estate professional with short sale expertise. Fred Thorne Realty LLC can aid you in expediting the transaction and make certain you're protected. Don't let inexperience impede the closing process. Let my experience and knowledge work for you.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Know that many short sales will not close in 30 days or less. Remember that you're not only getting approval from 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 warranties, buyer credits and allowances, and closing cost concessions are typically not negotiable when dealing with a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Fred Thorne Realty LLC, when I write an offer, I am looking out for your interests above all else and will always advise you to make your offer contingent upon the inspection results.
When you're ready to buy, whether it is a short sale or a typical home sale, Fred Thorne Realty LLC can help. Utilize my experience and knowledge of real estate to be confident that you're getting a fair deal and are protected during the full matter.

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