Looking to buy a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, just contact me through my site or e-mail me. I'm glad to address questions you have regarding real estate short sales.

Purchasing a short sale in Puyallup, Washington on your own is risky. Contact FirstPoint Real Estate for expert advice.

Can I get a bargain on a short sale?

Occasionally. Most people hear the term "short sale" and instinctively think of a seller that is in default and must sell their property fast to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the reduced price may in fact be closer to actual market values instead of below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using a qualified REALTOR® from FirstPoint Real Estate to assist you with researching a property can help you make informed decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Having this data can help you determine how much to offer.

  • Get a REALTOR® with short sale knowledge. FirstPoint Real Estate can help expedite the transaction and make certain you're protected. Don't let inexperience hold up the closing process. Let my 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 less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. Commonly, your offer will go before 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 working with a short sale. The lender will sell the property just the way it is which means the lender won't be paying for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At FirstPoint Real Estate, when I write an offer, I will be looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the results of the inspections.
When you're ready to buy, whether it is a short sale or a typical home sale, FirstPoint Real Estate is available for you. Apply my experience and knowledge of real estate to make sure you're getting a fair deal and are protected during the complete deal.