Want to buy 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 an amount less than what's owed. Should you have any questions regarding real estate in St Charles, Illinois, contact me here or e-mail me.

Purchasing a short sale in St Charles, Illinois on your own is risky. Contact Sanders & Company Real Estate Services for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Many people hear the phrase "short sale" and instinctively think of a seller that is insolvent and needing to sell their house promptly to avert further financial problems. This is occasionally 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 depreciated. In these cases the discounted price may in fact be consistent with true market values instead of below.

Are you ready to buy a short sale property?

Let me do the appropriate homework before making any offers. My expertise will help you make educated decisions. I will 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. Having these facts will help you determine how much to offer.
As an agent with short sale experience I will help expedite the transaction and ensure that you're protected. Don't let inexperience impede the closing process. Put my 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 probably take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. A lot of the time your offer will be sent to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are normally not negotiable when dealing with a short sale. The seller is selling the property just the way it is which means the seller or lender isn't going to pay for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Sanders & Company Real Estate Services, when we write an offer I will be looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the results of the inspections.

When you're ready to buy, whether it is a short sale or a typical home sale, Sanders & Company Real Estate Services can help you. Apply my experience and knowledge of real estate to be confident you are getting a fair deal and will be protected during the entire transaction.