Want to buy a short sale?
When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.
Are short sales bargains?
Every now and then a good deal will come along. Often times people hear the words "short sale" and instinctively think of a seller that is insolvent and needing to sell their home promptly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. In contrast, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these cases the reduced price may in fact be consistent with current market values, not below.
How do I buy a short sale?
If you're ready to buy, whether it's a short sale or a typical home sale,
Coldwell Banker Plourde Real Estate is here to help. Apply my experience and knowledge of real estate to feel confident you are getting a fair deal and remain protected during the entire deal.