Can I get a good deal on a short sale?

• Always do your research before making any offers. Using an experienced real estate agent from Asset Vu Real Estate Brokerage to help you research a property will help you make informed decisions. We can help learn to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this information can help you decide how much to offer.

• Hire an agent with short sale knowledge. The real estate agents at Asset Vu Real Estate Brokerage can help expedite the transaction and make certain you're protected. Don't permit inexperience to hinder the closing process. Let our experience and knowledge work for you.

• Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Know that most 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. It's not uncommon that your offer will be sent to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
• Home warranties, buyer credits and allowances, and closing cost concessions are generally non-negotiable when working with a short sale. The lender is selling the property "as is" which means the lender won't be paying for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Asset Vu Real Estate Brokerage, when we write an offer, we are looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the outcome of the inspections.