Want to buy a short sale?

A short sale is when the seller's lender has agreed to collect a reduced sum to release a mortgage. For more information, you can contact me through my site or e-mail me. I'm happy to address any 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?

Sometimes. Most people hear the words "short sale" and instinctively think of a seller that is in trouble and needs to sell their property fast to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In these cases the discounted price may in fact be in line with true market values, not below.

Are you ready to buy a short sale property?

  • Before you make any purchase offers, do your research. Using a knowledgeable real estate professional from FirstPoint Real Estate to support your research of a property will help you make educated decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this info can help you decide how much to offer.

  • Use a real estate professional with short sale knowledge. FirstPoint Real Estate can help expedite the transaction and make certain you're protected. Don't permit inexperience to hinder the closing process. Let my experience and knowledge work in your favor.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will probably 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 sale terms. It's not uncommon that your offer will be presented to a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not negotiable when working with a short sale. The lender is selling the property as seen which means the lender won't be paying for repairs. Make sure you reserve the right to have the property inspected 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 above all else and will always advise you to make your offer contingent upon the inspection results.
When it is time to buy, whether it's a short sale or a typical home sale, FirstPoint Real Estate can help. Use my experience and knowledge of real estate to feel confident you are getting a fair deal and protect yourself during the entire matter.