Short Sale Buyer Guide

You can get a great deal by purchasing a short sale, but the process can oftentimes be a tricky one. Take the necessary steps to ensure that your purchase goes as smoothly as possible.

  • Be sure you are working with a buyer’s agent that has successfully negotiated and closed short sales.
  • Short sale properties are usually the best priced homes on the market; therefore you and your agent need to be watching the market on a daily basis to discover them as soon as they appear.
  • Be prepared to see those properties that interest you right away, as many of them only stay on the market for a few days before they go pending.
  • Although the short sale process can be a long process, it doesn’t have to be that way. If you know what you are looking for in the home, we can pinpoint properties that have the ability to close quickly.
  • If you are serious about purchasing a short sale property, get with a lender that has experience in the process and obtain a pre-approval. An short sale experienced lender can be as valuable as short sale experienced buyer’s agent. See the lender page for more information.
  • Be prepared to respond quickly to requests from your agent, lender, the sellers agent and/or the lien holder. Although the upfront process can take a few weeks, your response to the seller is typically on a short time frame.
  • Bring your patience and your cooperation and the process can be as smooth as any other property purchase, as long as you are also working with a qualified agent and lender.

Difficulties with short sales can still easily appear even when you take all the necessary precautions. Be sure to visit our Short Sale Tips for Buyers page to learn some of the common pitfalls involved with short sales.

Contact us to find out more information on the short sale process.