Looking to make a deal on a short sale?


	A short sale is when the homeowner's lender has agreed to receive a reduced amount to release a mortgage.

Purchasing a short sale in Santa Rosa, California on your own is risky. Contact McCall and Company - CPS for expert advice.

Are short sales bargains?

From time to time, yes. Most people hear the words "short sale" and routinely think of a seller that is in default and needing to sell their house quickly to prevent 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 isn't delinquent with their payments, but property values have fallen. In these cases the discounted price may in fact be consistent with actual market values, not below.

What's involved in buying a short sale?

Before you make any purchase offers, do your homework. Using a knowledgeable real estate agent from McCall and Company - CPS to support your research of a property can help you make knowledgeable decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Finding this data can help you determine how much to offer.
Get an agent with short sale knowledge. The real estate agents at McCall and Company - CPS can help expedite the transaction and make certain you're protected. Don't permit inexperience to impede the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most 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 sale terms. A lot of the time your offer will be sent to a committee for approval 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 buying a short sale. The lender is selling the property as seen which means the lender will not be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At McCall and Company - CPS, when we write an offer, we will be looking out for your interests first and will always recommend that you make your offer contingent upon the outcome of the inspections.

When you are ready to buy, whether it's a short sale or a typical home sale, McCall and Company - CPS can help. Use our experience and knowledge of real estate to make sure you are getting a fair deal and protect yourself during the complete process.