Want to make a deal on a short sale?


	If a homeowner owes more on their home than its value, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's due. For more information, simply contact me through my site or e-mail me. I'm glad to address any questions you have regarding real estate short sales.

Purchasing a short sale in Durham, North Carolina on your own is risky. Contact FONVILLE MORISEY REALTY for expert advice.

Are short sales good deals?

Every now and then a good deal will come along. Often times people hear the words "short sale" and automatically think of a seller that is insolvent and must sell their property quickly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the discounted price may in fact be in line with current market values instead of below.

Are you ready to buy a short sale property?

Always do your homework before making any offers. Using an experienced real estate professional from FONVILLE MORISEY REALTY to support your research of a property can help you make informed decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you determine how much to offer.
Use a REALTOR^® with short sale expertise. The real estate agents at FONVILLE MORISEY REALTY can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience slow down the closing process. Put our knowledge and experience to work for you.
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 most short sales will not close in 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will be sent to a committee for approval which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when buying a short sale. The lender is selling the property "as is" which means the lender isn't going to pay for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At FONVILLE MORISEY REALTY, when we write an offer, we will be looking out for your interests above all else and will always recommend that you make your offer contingent upon the inspection results.

When it is time to buy, whether it's a short sale or a typical home sale, FONVILLE MORISEY REALTY can help you. Utilize our experience and knowledge of real estate to make sure that you're getting a fair deal and are protected during the complete deal.