Looking 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 consents to release the mortgage for a sum less than what's owed.
Can I get a bargain on a short sale?
Every now and then a good deal will come along. Most people hear the phrase "short sale" and instinctively think of a seller that is insolvent and needing to sell their house fast to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have declined. In cases such as these the reduced price may in fact be in line with actual market values rather than below.
Are you ready to buy a short sale property?
When you're ready to buy, whether it be a short sale or a typical home sale, Gold Star Realty is here to help. Use our experience and knowledge of real estate to be confident you are getting a fair deal and protect yourself during the complete matter.
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