Looking to buy a short sale?


	A short sale happens when the homeowner's lender agrees to accept a reduced sum to release a mortgage. If you have questions about Real Estate in Southern California, contact me here or e-mail me.

Purchasing a short sale in Chino Hills, California on your own is risky. Contact Re/Max Masters Realty for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Most people hear the term "short sale" and instinctively think of a seller that is in default and must sell their home fast to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In cases such as these the discounted price may in fact be consistent with actual market values rather than below.

What's involved in buying a short sale?

Always do your homework before making any offers. Using a knowledgeable real estate agent from Re/Max Masters Realty to support your research of a property can help you make educated decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this information can help you make a decision about how much to offer.
Hire a real estate agent with short sale knowledge. The real estate agents at Re/Max Masters Realty can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Let our experience and knowledge work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Know that many short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. A lot of the time your offer will be sent to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are normally non-negotiable when dealing with a short sale. The lender is selling the property as seen which means the lender isn't going to pay for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Re/Max Masters Realty, when we write an offer, we will be looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.

When it's time to buy, whether it's a short sale or a typical home sale, Re/Max Masters Realty is here to help. Utilize our experience and knowledge of real estate to be certain that you are getting a fair deal and protect yourself during the entire purchase transaction.