Want to buy a short sale?


	A short sale means the homeowner's lender consents to get a reduced sum to release a mortgage. If you have questions about 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 Cityfied Realty Inc. #01887664 for expert advice.

Can I get a bargain on a home that is upside down in mortgage?

Every now and then a good deal will come along. Many people hear the term "short sale" and automatically think of a seller that is insolvent and needs to sell their property fast to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In these cases the "bargain" 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 a qualified REALTOR^® from Cityfied Realty Inc. to support your research of a property will help you make knowledgeable 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 these facts can help you make a decision about how much to offer.
Use an agent with short sale knowledge and one who can show you property as soon as it comes on the market. Purchasing the quality properties through a short sale takes an agressive and strategic agent. The real estate agents at Cityfied Realty can help expedite the transaction and make sure you're protected. Don't permit inexperience to impede the closing process. Put our knowledge and experience to 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 most 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 be sent 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 generally not negotiable when dealing with a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Be sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Cityfied Realty Inc. when we write an offer, we are looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections. We can also write your offer so that the seller cannot accept a higher offer while their lender is approving your offer for a short sale.

When you're ready to buy, whether it's a short sale or a typical home sale, Cityfied Realty Inc. can help. Use our experience and knowledge of real estate to make sure you are getting a fair deal and remain protected during the whole transaction.