Want to make a deal on a short sale?


	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. Should you have any questions about real estate in Northern Virginia, contact me here or e-mail me.

Purchasing a short sale in Reston, Virginia on your own is risky. Contact Coldwell Banker Residential Brokerage for expert advice.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Often times people hear the phrase "short sale" and routinely think of a seller that is in default and needing to sell their house quickly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these cases the "bargain" price may in fact be in line with current market values rather than below.

How do I buy a short sale?

Always do your homework before making any offers. Using a qualified REALTOR^® from Coldwell Banker Residential Brokerage to assist you with researching a property will help you make educated decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you determine how much to offer.
Hire a REALTOR^® with short sale knowledge. The real estate agents at Coldwell Banker Residential Brokerage can help expedite the transaction and ensure that you're protected. Don't let inexperience slow down the closing process. Let our experience and knowledge work for you.
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 aware that many short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. It's not uncommon that your offer will be presented to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are typically non-negotiable when working with a short sale. The lender will sell the property as seen which means the lender isn't going to pay for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Coldwell Banker Residential Brokerage, when we write an offer, we're looking out for your interests above all else and will always suggest that you make your offer contingent upon the outcome of the inspections.

When it is time to buy, whether it is a short sale or a typical home sale, Coldwell Banker Residential Brokerage is available for you. Apply our experience and knowledge of real estate to feel confident that you're getting a fair deal and remain protected during the complete process.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information

*Name:
*Email:
Phone:
Street Address:
City:
State:
Country:
Zip/Postal Code:

Some Details

When Are You Moving?:
Where Are You Moving:
Your Price Range?:
Number of Bedrooms?:
Number of Bathrooms?:
Size In Square Feet?:
Any Comments, Concerns, Or Questions:

Note: Fields with an * are required