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, you can contact me through my site or e-mail me. I'm glad to answer any questions you have regarding real estate short sales.

Purchasing a short sale in Middletown, Ohio on your own is risky. Contact Paul C. Renwick for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Often times people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and must sell their home promptly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to do well from 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 declined. In cases such as these the "bargain" price may in fact be consistent with actual market values rather than below.

How do I buy a short sale?

Prior to making any purchase offers, do your homework. Using a knowledgeable real estate agent from Paul C. Renwick to support your research of a property will help you make knowledgeable decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you determine how much to offer.
Hire a real estate professional with short sale knowledge. The real estate agents at Paul C. Renwick can help expedite the transaction and make certain you're protected. Don't allow inexperience to slow down 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 usually take longer than a typical real estate transaction. Be aware that most short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. It's not uncommon that your offer will go before a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when buying a short sale. The lender is selling the property just the way it is which means the lender isn't going to pay for repairs. Be sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Paul C. Renwick, when we write an offer, we will be looking out for your interests above all else and will always recommend that you make your offer contingent upon the results of the inspections.

If you're ready to buy, whether it's a short sale or a typical home sale, Paul C. Renwick can help you. Utilize our experience and knowledge of real estate to make sure that you are getting a fair deal and will be protected during the whole transaction.

Keynote Realtors 4000 Roosevelt Blvd. Middletown, Oh 45044

513-424-9400 1-800-878-5383 Fax 513-424-9683