Want to make a deal on a short sale?


	A short sale happens when the homeowner's lender has agreed to receive a reduced sum to release a mortgage. For more information, just contact me through my site or e-mail me. I'm glad to answer any questions you have about real estate short sales.

Purchasing a short sale in Austin, Texas on your own is risky. Contact eTexas Realty for expert advice.

Can I get a bargain on a short sale?

Sometimes. Many people hear the phrase "short sale" and routinely 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 take advantage of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have declined. In these cases the "bargain" price may in fact be closer to current market values rather than below.

How do I buy a short sale?

Always do your research before making any offers. Using a qualified real estate agent from eTexas Realty to help you research a property can help you make informed decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you make a decision about how much to offer.
Hire an agent with short sale experience. The real estate agents at eTexas Realty can help expedite the transaction and ensure that you're protected. Don't let inexperience delay the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be seen by a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are generally not negotiable when working with a short sale. The lender will sell the property as seen which means the lender will not be paying for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At eTexas Realty, when we write an offer, we will be looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the outcome of the inspections.

When you're ready to buy, whether it be a short sale or a typical home sale, eTexas Realty can help. Apply our experience and knowledge of real estate to be certain you're getting a fair deal and remain protected during the whole deal.