Everyone is wanting a great deal, right? Well with all the inventory out there, now is definitely a good time to flex that buyer muscle. Short sales and foreclosures are flooding our market, and homes that cost 400k just a couple years ago, are now very affordable to most any buyer. You can obtain homes now that were at one time out of your reach.
When dealing with a short sale, you are offering a price to the bank, not the owner. Therefore, it is important that you obtain as much information about the outstanding loan as possible. Having the payoff amount is great ammunition when submitting an offer on a short sale. Be prepared for lengthy responses, other offers to jump ahead of you, and other out of ordinary occurrences. Banks are dealing with tons of stress and buying one of their properties should be stress-relieving to them.
It is important to work with an agent that knows the processes and has been down the road before. Feel free to call or email me with any questions you may have when dealing with a short sale or foreclosure. I will be more than happy to share my experiences with you as well as offer any insight that may be useful to you.
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