Buyers get your Free Pre-Foreclosure and Short Sale list.

PublicAuctionWebIf you are one of many looking to find the great deals in our housing industry, make sure you have an experienced Realtor assisting you with your selections and offers. Don’t get lost in the shuffle of buyers who are waiting months for an answer on “Short Salehomes.

If you are one of many buyers in the market wanting to take advantage of the great deals out there, your first priority should be to a have a “qualified” Realtor. If this is you, the first step you should take is to pre-qualify an “experienced” Realtor. Ask if they have taken Board of Realtor sponsored courses or any other classes to gain the expertise they need to represent you. Ask how many short sale, pre-foreclosures they have closed in the last year. If they are just out there learning by trial and error at your expense while they are representing you, they are doing you an injustice and should refer you to someone who specializes in these areas.

The steps that must be taken with pre-foreclosures are very time consuming, and must be done in detail perfectly or banks “will reject them”. Banks are so overwhelmed with short sales that if every “i” isn’t dotted and “t” crossed, the file will sit at the bottom of a pile of 800 or more files. Most Realtors do not take the time to get educated; this “is” a specialty!

When negotiating foreclosures, if the home you are interested in is an “awesome deal” deal, there are usually multiple offers on the table. An experienced Realtor will be more adverse on giving you the proper options to get the deal or move on. If the property is priced right, you will most likely have to offer over full price to get the deal. You must also be advised carefully of how high would be too high. Advice from a non-experienced Realtor could leave you in the same situation as the person who lost the home to foreclosure!

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*Please note*

If you are interested in a home that is just starting the short sale process, the average time for bank approval from the seller’s lender is approximately 90 days. An additional 30 days to close would be required if you are financing. The entire process could take approximately 120 days to close the home.

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