Looking to buy a short sale?


	When a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's due. Should you have questions about real estate in Freehold, New Jersey, contact me here or e-mail me.

Purchasing a short sale in Freehold, New Jersey on your own is risky. Contact Woodward Realty Group for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Many people hear the term "short sale" and automatically think of a seller that is in trouble and must sell their house quickly to prevent further financial problems. This is occasionally 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 with their mortgage, but property values have declined. In these cases the reduced price may in fact be in line with current market values, not below.

Are you ready to buy a short sale property?

Before making any purchase offers, do your research. Using an experienced REALTOR^® from Woodward Realty Group to help you research a property can help you make educated decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Locating this info can help you decide how much to offer.
Use a REALTOR^® with short sale expertise. The real estate agents at Woodward Realty Group can help expedite the transaction and ensure that you're protected. Don't permit inexperience to slow down 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 usually take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in 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. Commonly, your offer will go before 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 usually not negotiable when dealing with a short sale. The lender will sell 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 the property inspected for pests, HVAC, electrical, and other critical areas. At Woodward Realty Group, when we write an offer, we are looking out for your interests above all else and will always advise you to make your offer contingent upon the outcome of the inspections.

When you're ready to buy, whether it is a short sale or a typical home sale, Woodward Realty Group is here to help. Utilize our experience and knowledge of real estate to feel confident that you are getting a fair deal and are protected during the complete transaction.