There is nothing short about a short sale and they are sold in as is condition.
A short sale is sold "as-is". This means that the seller (the distressed person selling the home) and the bank will not make any repairs to the property. So, if the roof leaks, the microwave blew up and the carpet is stained, they're your responsibility. Buyers need to consider the cost of making repairs to the home. Typically, these repairs include new paint, new carpet or flooring, drywall repair, and other standard maintenance items. You must consider these costs when buying a short sale.
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Be Patient - This is the BEST advice I can give you when buying a short sale. As I mentioned. There are many twists and turns, paperwork gets lost, distressed sellers are slow to provide critical data, etc. But, a short sale may provide you with a wonderful opportunity to purchase a great home for less than you can imagine. Be patient, be strategic and don't get too attached to the property. If it's meant to be, it's meant to be. Good luck!
At Re/Max Wittney Estates we have successfully represented many buyers interested in purchasing distressed properties. If you or any one you know is interested in purchasing a distressed property please contact us at 516-795-6900 for more information, or visit our website to view Short Sales currently on the market.
Our trained and certified loan originators are always prepared to find the right loan program for you. Click here to contact them for a free pre-approval.
Click Here To View Nassau And Suffolk County Homes Currently Available For Sale