Want to buy a short sale?


	If a seller is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender consents to release the mortgage for an amount less than what's due. For more information, you can contact me through my site or e-mail me. I'm happy to answer questions you have about real estate short sales.

Purchasing a short sale in Atlanta, Georgia on your own is risky. Contact Chapman Hall Realtors for expert advice.

Can I get a bargain on a short sale?

Sometimes. Many people hear the term "short sale" and routinely think of a seller that is insolvent and needs to sell their home fast to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In cases such as these the reduced price may in fact be in line with current market values rather than below.

How do I buy a short sale?

Always do your research before making any offers. Using a knowledgeable REALTOR^® from Chapman Hall Realtors to assist you with researching a property will help you make educated decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting this information can help you decide how much to offer.
Get a real estate agent with short sale knowledge. The Realtors at Chapman Hall Realtors can help expedite the transaction and ensure that you're protected. Don't permit inexperience to slow down the closing process. Let our experience and knowledge work for you.
Even with an experienced Realtor and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will be presented to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are generally not negotiable when working with a short sale. The lender will be selling the property "as is" which means the lender isn't going to pay for repairs. Be sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Chapman Hall Realtors, when we write an offer, we will be looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.

If you're ready to buy, whether it be a short sale or a typical home sale, Chapman Hall Realtors is here to help. Use our experience and knowledge of real estate to make sure you're getting a fair deal and are protected during the full purchase transaction.