Want to make a deal on 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. For more information, you can 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 Edmond, Oklahoma on your own is risky. Contact 525 Realty Group for expert advice.

Are short sales good deals?

From time to time, yes. Often times people hear the phrase "short sale" and instinctively think of a seller that is in default and needs to sell their house quickly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In cases such as these the reduced price may in fact be consistent with current market values rather than below.

Are you ready to buy a short sale property?
  • Always do your homework before making any offers. Using an experienced real estate professional from 525 Realty Group to assist you with researching a property will help you make educated decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you make a decision about how much to offer.
  • Get an agent with short sale experience. The real estate agents at 525 Realty Group can aid you in expediting the transaction and make sure you're protected. Don't allow inexperience to slow down the closing process. Let our 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 probably take longer than a typical real estate transaction. Be informed 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 seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are usually non-negotiable when dealing with a short sale. The lender will be selling the property as seen which means the lender will not be paying for repairs. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At 525 Realty Group, when I write an offer, I will be looking out for your interests above all else and will always suggest that you make your offer contingent upon the results of the inspections.
If you're ready to buy, whether it is a short sale or a typical home sale, 525 Realty Group can help you. Apply my experience and knowledge of real estate to be certain that you're getting a fair deal and remain protected during the full matter.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details