Want to make a deal on a short sale?


	A short sale happens when the homeowner's lender consents to get a reduced payoff to release a mortgage. If you have questions regarding real estate in Holland, Michigan, contact me here or e-mail me.

Purchasing a short sale in Holland, Michigan on your own is risky. Contact West Michigan Realty of Holland for expert advice.

Can I get a bargain on a short sale?

Every now and then a good deal will come along. Many people hear the term "short sale" and instinctively think of a seller that is insolvent and needing to sell their home fast to avert further financial problems. This is sometimes 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 depreciated. In these instances the reduced price may in fact be consistent with true market values rather than below.

How do I buy a short sale?

Before making any purchase offers, do your research. Using a knowledgeable REALTOR^® from West Michigan Realty of Holland to support your research of a property can help you make educated decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring these facts can help you decide how much to offer.
Get a real estate professional with short sale experience. The real estate agents at West Michigan Realty of Holland can aid you in expediting the transaction and ensure that you're protected. Don't allow inexperience to delay the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that most short sales will not close in 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. Commonly, your offer will be presented to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are typically not negotiable when dealing with a short sale. The lender will sell the property just the way it is which means the lender will not be paying for repairs. Always reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At West Michigan Realty of Holland, when we write an offer, we 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 it's time to buy, whether it is a short sale or a typical home sale, West Michigan Realty of Holland is here to help. Utilize our experience and knowledge of real estate to be certain that you're getting a fair deal and remain protected during the whole process.