Want to buy a short sale?


	A short sale means the homeowner's lender agrees to accept a reduced payoff to release a mortgage. Should you have questions regarding real estate in AUSTIN, Texas, contact me here or e-mail me.

Purchasing a short sale in AUSTIN, Texas on your own is risky. Contact HUD512 for expert advice.

Can I get a bargain on a short sale?

Sometimes. Most people hear the term "short sale" and routinely think of a seller that is in financial trouble and must sell their home quickly to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these instances the "bargain" price may in fact be consistent with actual market values instead of below.

Are you ready to buy a short sale property?

Before you make any purchase offers, do your homework. Using a knowledgeable REALTOR^® from HUD512 to support your research of a property can help you make knowledgeable decisions. We can help learn to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this information can help you decide how much to offer.
Get an agent with short sale expertise. The real estate agents at HUD512 can help expedite the transaction and make sure you're protected. Don't let inexperience hinder the closing process. Let our experience and knowledge work for you.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Know that most 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 sale terms. A lot of the time your offer will be sent to a committee for approval which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are generally non-negotiable when working with a short sale. The lender will be selling the property "as is" which means the lender isn't going to pay for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At HUD512, when we write an offer, we are looking out for your interests above all else and will always suggest 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, HUD512 is available for you. Apply our experience and knowledge of real estate to feel confident you are getting a fair deal and will be protected during the complete matter.