||A short sale means the homeowner's lender agrees to get a reduced payoff to release a mortgage.
Are short sales good deals?Sometimes. Many people hear the term "short sale" and routinely think of a seller that is insolvent and needing to sell their house promptly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to do well from 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 fallen. In these cases the reduced price may in fact be in line with true market values rather than below.
Are you ready to buy a short sale property?
When you're ready to buy, whether it's a short sale or a typical home sale, Team Solkin is available for you. Apply our experience and knowledge of real estate to be certain you are getting a fair deal and protect yourself during the full transaction.
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