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Ready to buy a short sale?


	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, just 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 Brentwood, Tennessee on your own is risky. Contact Benchmark Realty LLC for expert advice.

Can I get a bargain on a short sale?

Occasionally. Many people hear the words "short sale" and automatically think of a seller that is insolvent and needing to sell their house promptly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In cases such as these the reduced price may in fact be in line with current market values instead of below.

How do I buy a short sale?

Always do your homework before making any offers. Using an experienced real estate professional from Benchmark Realty LLC to assist you with researching a property will help you make educated decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this info can help you determine how much to offer.
Hire a real estate professional with short sale expertise. The real estate agents at Benchmark Realty LLC can help expedite 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 probably take longer than a typical real estate transaction. Be informed that most 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 terms of the sale. A lot of the time your offer will be presented to 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 usually not negotiable when working with a short sale. The lender is selling 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 Benchmark Realty LLC, when we write an offer, we are looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.

If you are ready to buy, whether it be a short sale or a typical home sale, Benchmark Realty LLC can help. Use our experience and knowledge of real estate to feel confident you are getting a fair deal and protect yourself during the full transaction.