Ready to make a deal on a short sale?

If a seller owes more on their house 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 owed. For more information, just contact me through my site or e-mail me. I'm happy to address any questions you have about real estate short sales.

Purchasing a short sale in Landrum, South Carolina on your own is risky. Contact Mickey Hambright for expert advice.

Can I get a good deal on a short sale?

Sometimes. Often times people hear the term "short sale" and routinely think of a seller that is in trouble and must sell their property quickly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these cases the discounted price may in fact be consistent with true market values, not below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a knowledgeable real estate professional from Mickey Hambright to support your research of a property will help you make knowledgeable decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you decide how much to offer.
  • Hire a real estate agent with short sale expertise. Mickey Hambright can help expedite the transaction and make sure you're protected. Don't let inexperience delay the closing process. Let my experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that most short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. A lot of the time your offer will be seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are normally not up for negotiation when dealing with a short sale. The lender is 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 inspections for pests, HVAC, electrical, and other critical areas. At Mickey Hambright, when I write an offer, I'm looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the results of the inspections.
When it is time to buy, whether it's a short sale or a typical home sale, Mickey Hambright is available for you. Apply my experience and knowledge of real estate to feel confident that you are getting a fair deal and protect yourself during the full transaction.