Ready to make a deal on a short sale?


	When a seller is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's due. For more information, simply contact me through my site or e-mail me. I'm happy to answer questions you have regarding real estate short sales.

Purchasing a short sale in Selah, Washington on your own is risky. Contact Jody Hurst & Associates Realty for expert advice.

Are short sales good deals?

From time to time, yes. Most people hear the phrase "short sale" and automatically think of a seller that is in trouble and must sell their house promptly to avoid further financial problems. This is sometimes 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 isn't delinquent with their payments, but property values have declined. In cases such as these the "bargain" price may in fact be in line with current market values rather than below.

How do I buy a short sale?

Before you make any purchase offers, do your homework. Using a qualified real estate agent from Jody Hurst & Associates Realty to assist you with researching a property will help you make informed 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 info can help you decide how much to offer.
Hire a real estate agent with short sale expertise. The real estate agents at Jody Hurst & Associates Realty can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to impede the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Know that a majority of short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the sale terms. In most cases your offer will be presented to 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 generally not up for negotiation 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. Make sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Jody Hurst & Associates 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.

When it's time to buy, whether it is a short sale or a typical home sale, Jody Hurst & Associates Realty can help you. Apply our experience and knowledge of real estate to feel confident you're getting a fair deal and are protected during the complete transaction.