First of all, you will want to make sure your WNY Realtor is qualified to work short sales and more importantly the seller’s agent knows the requirement in which to sale a short sale.
If your Realtor is a pro in this area they would know that a Seller would need to be qualified for a short sale. See The Number one most important part of the short sale is: Does the seller qualify for a short sale? Is there a legitimate hardship? What is the reason the seller can’t continue making the payments or why do they have to sell? This is the make-it or break-it part of the short sale.
Don’t waste your time if the seller does not have a true hardship. But dose your Realtor know this?
This is the reason that you have to make sure that your Realtor is qualified because little known tidbits like this can cause you the deal and whole lots of time. If you have the time to wait, a short sale is a good way to go. One thing to be sure to ask when purchasing a short sale is, "who is handling it?" Is the Realtor an experienced short sale expert? Or is the listing agent using a Short Sale company that strictly focuses on short sales? By having someone with knowledge and expertise in short sales, it will make the process go much smoother and faster.
Don’t lose out on your home because your Realtor don’t know what to do because the benefits can be very rewarding and One of the benefits of buying a short sale is that the bank is typically willing to accept less money for the property because of the time and risk involved. So you generally are getting the home at below market value.
So now that you know a little about short sales go out and find one.
If you should have any questions regarding this topic or any other real estate topic from this blog please feel free to send Mark Key a question from the Q&A BOX at the top of the page I promise to get back to you as soon as possible.
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