Want to buy a short sale?

	If a seller owes more on their house than its value, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's owed.

Are short sales bargains?

• Always do your research before making any offers. Using a qualified real estate agent from STEVEN R LINDBURG, P.A. Anchor Real Estate to help you research a property will help you make informed decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this info can help you decide how much to offer.

• Get a real estate professional with short sale experience. The real estate agents at STEVEN R LINDBURG, P.A. Anchor Real Estate can help expedite the transaction and ensure that you're protected. Don't allow inexperience to hinder the closing process. Let our experience and knowledge work for you.

• 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 aware that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. In most cases your offer will be seen by a committee to approve which will add time - sometimes even 2 to 3 months.
• Home protection plans, buyer credits and allowances, and closing cost concessions are typically not negotiable when working with a short sale. The lender is selling the property as seen which means the lender won't be paying for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At STEVEN R LINDBURG, P.A. Anchor Real Estate, when we write an offer, we are looking out for your interests above all else and will always suggest that you make your offer contingent upon the inspection results.