However, buying a short sale is not easy. The seller has to convince the lender to accept a big loss on the mortgage. Banks do not like losses. Because of that they double check everything before approving the sale.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/
The biggest thing you need to be aware of is that there is no guarantee that the seller's lender will approve the sale.
It has a very good chance of it being approved if the seller's agent is competent and experienced with short sales. However, not all agents understand short sales.
Here are the costly mistakes you want to avoid when buying a short sale.
Costly Mistake #1: Selling your house before the short sale is approved. If the short sale is delayed or rejected by the lender then your moving plans can be thrown into limbo.
Costly Mistake #2: Not ordering a thorough inspection before purchasing. Most people short sale their home because of financial problems.
This means that they have not had the money available to properly maintain their home. Other homeowners have had to move out of their home for other reasons such as a job transfer.
They tried to sell their home for what they owed, but no buyers were interested. After being on the market for a while they finally realized they were upside down and decided to short sell their home.
In the meantime their home was empty and wasn't maintained. This can cause a lot of problems.
To avoid this problem make sure you hire the best inspector you can find. Make sure they go thru the entire home looking for problems.
Costly Mistake #3: Using a realtor that is not experienced with short sales. There are many other potential problems that can arise when you are trying to buy a short sale.
If your agent does not understand the short sale process, then they will not know what to do when a problem arises.
Even worse, they may not foresee a potential problem and help you deal with before it turns into something worse. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick and Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
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Important Notice
Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.
This information on Three Costly Mistakes Buyers Make when Buying A Columbus Short Sale is provided as a courtesy to our viewers to help them make informed decisions.
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