Ready to make a deal on 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.
Are short sales bargains?
Sometimes. Many people hear the words "short sale" and routinely think of a seller that is in trouble and must sell their home quickly to avoid further financial problems. This is sometimes 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 discounted price may in fact be in line with actual market values, not below.
What's involved in buying 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. Use my experience and knowledge of real estate to make sure you are getting a fair deal and will be protected during the entire process.