Want to buy a short sale?
When a seller is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's due.
For more information, simply contact us
through our site or e-mail us
. We're happy to address questions you have regarding real estate short sales.
Are short sales good deals?
Occasionally. Most people hear the term "short sale" and instinctively think of a seller that is insolvent and must sell their house promptly to avoid 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 isn't delinquent with their payments, but property values have depreciated. In these instances the reduced price may in fact be closer to true market values instead of below.
How do I buy a short sale?
If you're ready to buy, whether it is a short sale or a typical home sale, LMG Realty, Inc can help. Apply our experience and knowledge of real estate to be confident you are getting a fair deal and remain protected during the complete process.