Buying or selling your Morrisville house

Want 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 the property, it's called a short sale. Should you have any questions regarding real estate in Cary, North Carolina, contact me here or e-mail me.

Purchasing a short sale in Cary, North Carolina on your own is risky. Contact RE/MAX Performance for expert advice.

Are they good deals?

From time to time, yes. Many people hear the words "short sale" and automatically think of a seller that is in trouble and must sell their home quickly 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. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In cases such as these the reduced price may in fact be consistent with true market values rather than below.

How do I buy a short sale?

Before making any purchase offers, do your homework. Using a knowledgeable real estate professional from RE/MAX Performance to support your research of a property will help you make educated decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating this data can help you decide how much to offer.
Get an agent with short sale knowledge. RE/MAX Performance can help expedite the transaction and make sure you're protected. Don't permit inexperience to impede the closing process. Let my experience and knowledge work for you.
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 many short sales will not close in the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. A lot of the time your offer will be sent to a committee to approve, which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when buying a short sale. The lender is selling the property just the way it is which means the lender won't be paying for repairs. Make sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At RE/MAX Performance, when I write an offer, I 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's a short sale or a typical home sale, RE/MAX Performance is available for you. Use my experience and knowledge of real estate to be certain that you are getting a fair deal and are protected during the full matter.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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