Want to buy a short sale?

A short sale is when the seller's lender consents to accept a reduced amount to release a mortgage.

Purchasing a short sale in Ewing, New Jersey on your own is risky. Contact SBR Realty LLC 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 in financial trouble and must sell their home promptly to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to do well from another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have fallen. In cases such as these the reduced price may in fact be in line with actual market values instead of below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a knowledgeable real estate professional from SBR Realty LLC to assist you with researching a property can help you make informed decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding these facts can help you make a decision about how much to offer.
  • Use a real estate agent with short sale knowledge. SBR Realty LLC can help expedite the transaction and make sure you're protected. Don't permit inexperience to delay the closing process. Let my experience and knowledge work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in less than 30 days. Remember that you're not only having to get approval from 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 or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are typically not negotiable when working with a short sale. The lender is selling the property "as is" which means the lender will not be paying for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At SBR Realty LLC, when I write an offer, I will be looking out for your interests first and will always suggest that you make your offer contingent upon the inspection results.
When you are ready to buy, whether it is a short sale or a typical home sale, SBR Realty LLC is here to help. Utilize my experience and knowledge of real estate to be certain that you are getting a fair deal and are protected during the whole process.