Looking to purchase a short sale?


	When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. Should you have questions regarding real estate in San Diego, California, contact me here or e-mail me.

Purchasing a short sale in San Diego, California on your own is risky. Contact Apple Dream Homes for expert advice.

Are they good deals?

Occasionally. Most people hear the words "short sale" and instinctively think of a seller that is in default and must sell their house quickly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these cases the reduced price may in fact be in line with actual market values, not below.

How do I buy a short sale?

Before you make any purchase offers, do your research. Using a qualified real estate professional from Apple Dream Homes to assist you with researching a property can help you make informed decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having this information can help you determine how much to offer.
Get a real estate agent with short sale knowledge. The real estate agents at Apple Dream Homes can aid you in expediting the transaction and make certain you're protected. Don't let inexperience delay the closing process. Let our experience and knowledge work for you.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that many short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the sale terms. It's not uncommon that your offer will go before a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when working with a short sale. The lender is selling the property as seen which means the lender won't be paying for repairs. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Apple Dream Homes, when we write an offer, we are looking out for your interests first and will always advise you to make your offer contingent upon the outcome of the inspections.

When it is time to buy, whether it is a short sale or a typical home sale, Apple Dream Homes can help. Utilize our experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the whole matter.