Ready to buy a short sale?
A short sale is when the seller's lender has agreed to receive a reduced payment to release a mortgage.
Are short sales good deals?
Occasionally. Most people hear the phrase "short sale" and instinctively think of a seller that is in default and needs to sell their house quickly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, 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 in line with actual market values, not below.
How do I buy a short sale?
When you're ready to buy, whether it's a short sale or a typical home sale,
Excel Funding Real Estate Services, Inc. can help you. Use my experience and knowledge of real estate to be confident you are getting a fair deal and remain protected during the entire deal.