Ready 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 happy to answer questions you have about real estate short sales.

Purchasing a short sale in HUNTLEY, Illinois on your own is risky. Contact HUNTLEY REALTY for expert advice.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Many people hear the words "short sale" and routinely think of a seller that is in financial trouble and needs to sell their property quickly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have fallen. In these instances the "bargain" price may in fact be in line with actual market values instead of below.

Are you ready to buy a short sale property?

Before you make any purchase offers, do your research. Using a knowledgeable real estate agent from HUNTLEY REALTY to assist you with researching a property will help you make educated decisions. We can help find out 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 determine how much to offer.
Get a real estate agent with short sale experience. The real estate agents at HUNTLEY REALTY can assist you in expediting the transaction and make sure you're protected. Don't allow inexperience to hinder 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 probably take longer than a typical real estate transaction. Be informed that most short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will go before 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 usually not up for negotiation when dealing with a short sale. The lender will sell 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 HUNTLEY REALTY, when we write an offer, we will be looking out for your interests first and will always recommend that you make your offer contingent upon the outcome of the inspections.

When you're ready to buy, whether it's a short sale or a typical home sale, HUNTLEY REALTY can help you. Apply our experience and knowledge of real estate to make sure that you're getting a fair deal and are protected during the whole purchase transaction.