Want to buy a short sale?

	A short sale happens when the seller's lender consents to collect a reduced amount to release a mortgage. If you have questions about real estate in Baldwin, New York, contact me here or e-mail me.

Can I get a good deal on a short sale?

• Always do your homework before making any offers. Using a qualified REALTOR^® from Sailing Home Realty Corp to help you research a property will help you make informed decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this data can help you decide how much to offer.

• Use a REALTOR^® with short sale knowledge. The real estate agents at Sailing Home Realty Corp can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Put our experience and knowledge to work in your favor.

• Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in 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 terms of the sale. Commonly, your offer will go before a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
• Home protection warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when dealing with a short sale. The lender will sell the property just the way it is which means the lender isn't going to pay for repairs. Be sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Sailing Home Realty Corp, 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 results of the inspections.