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Ready to purchase a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. If you have questions about real estate in Baldwin, New York, contact me here or e-mail me.

Purchasing a short sale in Baldwin, New York on your own is risky. Contact Sailing Home Realty, Corp. for expert advice.

Can I get a good deal on a short sale?

From time to time, yes. Many people hear the term "short sale" and automatically think of a seller that is in financial trouble and needs to sell their home 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. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these instances the "bargain" price may in fact be closer to actual market values instead of below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using a knowledgeable REALTOR® from Sailing Home Realty, Corp. to help you research a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you make a decision about how much to offer.
  • Hire an agent with short sale knowledge. Sailing Home Realty, Corp. can assist you in expediting the transaction and make sure you're protected. Don't let inexperience hinder the closing process. Put my experience and knowledge to work in your favor.

  • Even with an experienced real estate agent and under the best of situations, 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 30 days or less. Remember that you're not only getting approval from 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 or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are generally not negotiable when dealing with a short sale. The lender is selling the property as seen which means the lender isn't going to pay for repairs. Make sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Sailing Home Realty, Corp., when I write an offer, I will be looking out for your interests above all else and will always suggest that you make your offer contingent upon the outcome of the inspections.

When you're ready to buy, whether it be a short sale or a typical home sale, Sailing Home Realty, Corp. is available for you. Utilize my experience and knowledge of real estate to be confident you're getting a fair deal and are protected during the entire matter.


Sailing Home Realty
of Long Island LLC
1025 Atlantic Ave
Baldwin, NY 11510
Phone: 516-377-4760
Email: SailingHomeRealty@gmail.com

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