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Want to buy a short sale?

A short sale means the seller's lender consents to get a reduced amount to release a mortgage.

Purchasing a short sale in Baltimore, Maryland on your own is risky. Contact Betsher & Associates Realtors, Inc. for expert advice.

Can I get a bargain on a short sale?

Occasionally. Often times people hear the term "short sale" and instinctively think of a seller that is in default and needing to sell their property fast to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have declined. In these cases the reduced price may in fact be in line with actual market values, not below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using an experienced real estate professional from Betsher & Associates Realtors, Inc. to help you research a property can help you make informed decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring these facts can help you make a decision about how much to offer.
  • Hire a REALTOR® with short sale expertise. Betsher & Associates Realtors, Inc. can aid you in expediting the transaction and make sure you're protected. Don't permit inexperience to delay the closing process. Let my experience and knowledge work for you.

  • 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 most 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 terms of the sale. 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 warranties, buyer credits and allowances, and closing cost concessions are usually not 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. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Betsher & Associates Realtors, Inc., when I write an offer, I'm looking out for your interests first and foremost and will always advise you to make your offer contingent upon the results of the inspections.
When you are ready to buy, whether it's a short sale or a typical home sale, Betsher & Associates Realtors, Inc. is available for you. Use my experience and knowledge of real estate to feel confident that you are getting a fair deal and will be protected during the complete process.