Looking to make a deal on a short sale?


	A short sale means the seller's lender consents to receive a reduced amount to release a mortgage. For more information, just contact me through my site or e-mail me. I'm happy to answer questions you have about real estate short sales.

Purchasing a short sale in Poteau, Oklahoma on your own is risky. Contact Cecilia Reed Realty for expert advice.

Are short sales bargains?

From time to time, yes. Most people hear the term "short sale" and automatically think of a seller that is in default and needs to sell their house quickly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In these instances the discounted price may in fact be in line with actual market values rather than below.

What's involved in buying a short sale?

Prior to making any purchase offers, do your research. Using an experienced REALTOR^® from Cecilia Reed Realty to support your research of a property will help you make knowledgeable decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you decide how much to offer.
Hire a REALTOR^® with short sale knowledge. The real estate agents at Cecilia Reed Realty can aid you in expediting the transaction and ensure that you're protected. Don't permit inexperience to hold up 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. Be informed that many short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. 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 typically non-negotiable when dealing with a short sale. The lender will sell the property "as is" which means the lender won't be paying for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Cecilia Reed Realty, when we write an offer, we will be looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.

If you're ready to buy, whether it's a short sale or a typical home sale, Cecilia Reed Realty is available for you. Utilize our experience and knowledge of real estate to be confident you're getting a fair deal and are protected during the full deal.