Want to purchase a short sale?

A short sale means the seller's lender consents to collect a reduced payment to release a mortgage. For more information, simply contact us through our site or e-mail us. We're glad to answer questions you have about real estate short sales.

Purchasing a short sale in Pleasant Garden, North Carolina on your own is risky. Contact The ALLREALTY Group for expert advice.

Are short sales bargains?

From time to time, yes. Often times people hear the words "short sale" and instinctively think of a seller that is in financial trouble and needing to sell their house promptly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In cases such as these the discounted price may in fact be consistent with current market values rather than below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a qualified real estate agent from The ALLREALTY Group to help you research a property can help you make educated decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this data can help you decide how much to offer.
  • Hire an agent with short sale experience. The real estate agents at The ALLREALTY Group can assist you in expediting the transaction and ensure that you're protected. Don't permit inexperience to slow down the closing process. Let our experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that many short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. In most cases your offer will be seen by a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are usually non-negotiable 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. Make sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At The ALLREALTY Group, when we write an offer, we will be looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.
When you're ready to buy, whether it be a short sale or a typical home sale, The ALLREALTY Group is here to help. Apply our experience and knowledge of real estate to make sure you're getting a fair deal and remain protected during the entire matter.