Want to buy a short sale?
If a homeowner owes more on their home than its value, 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 owed.
Are short sales good deals?
Every now and then a good deal will come along. Often times people hear the phrase "short sale" and instinctively think of a seller that is in financial trouble and must sell their property fast to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. Alternatively, 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 true market values, not below.
How do I buy a short sale?
When you're ready to buy, whether it is a short sale or a typical home sale,
Coldwell Banker Plourde Real Estate can help. Utilize my experience and knowledge of real estate to be confident that you're getting a fair deal and will be protected during the whole process.