Want to buy a short sale?

	A short sale is when the homeowner's lender has agreed to get a reduced sum to release a mortgage.

Are short sales good deals?

• Always do your homework before making any offers. Using a qualified real estate agent from Madcity Property @ Keller Williams Realty to assist you with researching a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Having this data can help you determine how much to offer.

• Get a REALTOR^® with short sale knowledge. The real estate agents at Madcity Property @ Keller Williams Realty can help expedite the transaction and make sure you're protected. Don't let inexperience 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 usually take longer than a typical real estate transaction. Be informed that many short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. Commonly, your offer will be sent to a committee for approval which will add time - sometimes even 2 to 3 months.
• Home warranties, buyer credits and allowances, and closing cost concessions are typically non-negotiable when dealing with a short sale. The lender is selling the property just the way it is which means the lender won't be paying for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Madcity Property @ Keller Williams Realty, when we write an offer, we are looking out for your interests above all else and will always advise you to make your offer contingent upon the inspection results.