It’s no secret that the Charlotte real estate area is currently in a buyer’s market. So what does that mean to Charlotte real estate home buyers? It means a deal! And deals come in all shapes and sizes – including short sales. Depending on who you talk to, short sale home purchases can either be a blessing or a curse. Here are 5 simple tips to make sure your next Charlotte short sale purchase lands you the deal of the century!
- Patience is the name of the short sale game. Let’s face it, there’s nothing “short” about a short sale. Buyers looking to take advantage of Charlotte real estate short sales have a long wait ahead of them. On average, purchasing Charlotte short sale homes for sale can take up to four months before you receive an approval letter from the seller’s lender(s). And the process can feel like you’re trying to run a marathon on a treadmill. We understand the short sale timeline and will keep you focused on the end goal, ensuring you are provided timely updates and know exactly where your offer is in the process.
- Do your Research. Charlotte real estate area buyers who successfully snag fantastic deals on short sale homes are prepared for the extra work short sales require. Buyers should remember that the listing price is set by the listing real estate agent and seller – not the bank. Lenders understand that the amount owed on a home does not always reflect the value of the home in today’s market. Our Charlotte real estate agents take the time to develop a strategy to achieve short sale approvals efficiently and effectively!
- Realistic offers will be successful offers. Short sales can offer amazing value. But it is important to remember that realistic, thoughtful offers will obtain approvals much quicker than low-ball offers. Unrealistic purchase prices will often experience either slow response or no response at all. And Lenders have an extensive process to determine a fair value for the house and are not afraid to counter offers. We have the market data and knowledge to ensure our buyers get a fair deal at significantly lower prices for all of our Charlotte homes short sale purchases.
- Use a Charlotte real estate area REALTOR with experience. A good top REALTOR is worth their weight in gold, especially when it comes to short sales. We know the right questions to ask and where to find answers. Lenders receive a multitude of short sale offers each day. A good REALTOR has the tools and knowledge to make sure your offer is processed quickly and doesn’t get forgotten on someone’s desk. We also help our buyers negotiate terms of the contract with the lender, ensuring that you don’t leave money on the table – Meaning more money in your pocket after closing on that perfect Charlotte home.
- Be Prepared for the short sale process. Have a pre-approval letter in hand when you submit your offer for Charlotte homes for sale. Lenders will require the letter before they will even consider your offer. Also, short sale homes have often experienced neglect or have been vacant for a significant period of time. Make sure you
have enough cash set aside to cover unexpected repairs. And finally, be prepared to close in a hurry. Once lenders issue an approval letter they may expect you to close in as little as two weeks. We help all our buyers prepare for their Charlotte real estate area short sale purchase and will ensure you are fully equipped for a great purchase experience!
And remember, you’re not alone in navigating your Charlotte short sale home purchase. If you want to take advantage of today’s great home bargains, Contact Us and we will ensure your next home purchase is not only fun and stress-free, but leaves you feeling like a savvy real estate investor too!
Comments(0)