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Want to make a deal on a short sale?
If a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for an amount less than what's owed.
Are short sales good deals?
Every now and then a good deal will come along. Often times people hear the words "short sale" and automatically think of a seller that is in trouble and needing to sell their property fast to avoid 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 is current with their mortgage, but property values have declined. In these cases the discounted price may in fact be closer to current market values, not below.
How do I buy a short sale?
When it's time to buy, whether it is a short sale or a typical home sale,
Excel Funding Real Estate Services, Inc. can help you. Apply my experience and knowledge of real estate to feel confident that you're getting a fair deal and remain protected during the full process.