Want to buy a short sale?


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

Purchasing a short sale in Huntsville, Alabama on your own is risky. Contact Philip Winburn / Rosenblum Realty Inc. for expert advice.

Can I get a bargain on a short sale?

Sometimes. Often times people hear the phrase "short sale" and routinely think of a seller that is insolvent and must sell their home 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. 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 cases the discounted price may in fact be consistent with current market values instead of below.

Are you ready to buy a short sale property?

Before making any purchase offers, do your homework. Using a knowledgeable real estate agent from Philip Winburn / Rosenblum Realty Inc. to support your research of a property will help you make educated 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. Locating these facts can help you determine how much to offer.
Get a real estate agent with short sale experience. The real estate agents at Philip Winburn / Rosenblum Realty Inc. can aid you in expediting the transaction and make sure you're protected. Don't let inexperience hinder the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that many short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will be seen by a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are generally non-negotiable when working with a short sale. The lender will sell the property "as is" which means the lender isn't going to pay for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Philip Winburn / Rosenblum Realty Inc., when we write an offer, we will be looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.

When it is time to buy, whether it is a short sale or a typical home sale, Philip Winburn / Rosenblum Realty Inc. can help. Use our experience and knowledge of real estate to be confident that you are getting a fair deal and are protected during the complete process.

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