Want to buy 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 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.

Are short sales bargains?

Sometimes. Most people hear the phrase "short sale" and instinctively think of a seller that is in trouble and needing to sell their home quickly to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these cases the reduced price may in fact be in line with current market values instead of below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a qualified REALTOR® from JG Atlanta Properties, LLC. to help you research 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. Locating this data can help you determine how much to offer.
  • Get a real estate agent with short sale expertise. JG Atlanta Properties, LLC. can aid you in expediting the transaction and make certain you're protected. Don't let inexperience delay the closing process. Let my experience and knowledge work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Know that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when working with a short sale. The lender will be selling the property just the way it is which means the lender will not be paying for repairs. Make sure to reserve the right to have the property inspected 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 suggest that you make your offer contingent upon the results of the inspections.
If you are ready to buy, whether it be a short sale or a typical home sale, JG Atlanta Properties, LLC. is available for you. Apply my experience and knowledge of real estate to feel confident you're getting a fair deal and remain protected during the whole deal.