Ready to buy a short sale?

When a homeowner owes more on their home than its value, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's due. Should you have any questions about real estate in Flowery Branch, Georgia, contact me here or e-mail me.

Purchasing a short sale in Flowery Branch, Georgia on your own is risky. Contact JG Atlanta Properties, LLC. for expert advice.

Can I get a good deal on a short sale?

The short answer is "sometimes". Most people hear the term "short sale" and routinely think of a seller that is insolvent and needing to sell their home promptly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have fallen. In these cases the "bargain" price may in fact be closer to actual market values rather than below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using an experienced real estate professional from JG Atlanta Properties, LLC. to support your research of a property will help you make educated decisions. We can help find out 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.
  • Hire a real estate professional with short sale expertise. JG Atlanta Properties, LLC. can aid you in expediting the transaction and ensure that you're protected. Don't let inexperience slow down the closing process. Let my 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 informed that most short sales will not close in 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. In most cases your offer will be seen by a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are generally not negotiable when working with a short sale. The lender is selling the property "as is" which means the lender won't be paying for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At JG Atlanta Properties, LLC., when I write an offer, I am looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the inspection results.
When you are ready to buy, whether it be a short sale or a typical home sale, JG Atlanta Properties, LLC. can help you. Use my experience and knowledge of real estate to make sure that you're getting a fair deal and protect yourself during the complete deal.