Ready to buy a short sale?


	A short sale happens when the seller's lender agrees to accept a reduced sum to release a mortgage. If you have questions regarding real estate in Brigantine, New Jersey, contact me here or e-mail me.

Purchasing a short sale in Brigantine, New Jersey on your own is risky. Contact Domain Realty for expert advice.

Are short sales bargains?

Every now and then a good deal will come along. Many people hear the words "short sale" and instinctively think of a seller that is in default and needs to sell their home quickly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. Alternatively, 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 "bargain" price may in fact be in line with actual market values rather than below.

Are you ready to buy a short sale property?

Always do your homework before making any offers. Using a qualified real estate agent from Domain Realty to assist you with researching a property can help you make knowledgeable decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Locating this data can help you determine how much to offer.
Hire a real estate professional with short sale expertise. The real estate agents at Domain Realty can aid you in expediting the transaction and make certain you're protected. Don't permit inexperience to hinder the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Know that many short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. A lot of the time your offer will be seen by a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are generally non-negotiable when buying a short sale. The lender will sell the property just the way it is which means the lender won't be paying for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Domain Realty, when we write an offer, we're looking out for your interests above all else and will always advise you to make your offer contingent upon the results of the inspections.

When it's time to buy, whether it be a short sale or a typical home sale, Domain Realty is available for you. Utilize our experience and knowledge of real estate to make sure you are getting a fair deal and will be protected during the entire deal.

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