Advantages of Buying a Short Sale Property
Are you thinking about investing in your future? Have you thought about getting that piece of the American dream or just not sure where to place your money in these unsure times? It is still a buyer’s market and now is a great time to invest in your future with real estate. There are some great deals in the market especially with foreclosures and short sales.
A short sale is where the home owner and any lending institution with interest in the property is willing to accept less than the balance of obligations to creditors on the home. In this case the buyer can purchase the home sometimes for much less than the seller’s purchase price. So these can provide excellent buying opportunities for those who seek them out in a bottoming market. We at the Batchelor Group are seeing fantastic deals in our market and would love to help you find the home that you are looking for.
The big advantage of short sale listings is your ability to negotiate directly with the bank. Because the home owner has usually gotten what is known as a deficiency waiver, they will not be responsible for the price difference in the short sale. Therefore, the bank has the primary concern about the final sale price and allows the buyer to negotiate to get sometimes an incredible deal. We at the Batchelor group are experts in this process of negotiating with banks and can help you get the best value possible from the bank in a short sale situation. We understand the complexities that can be involved in these negotiations such as liens from creditors which must be part of making a deal.
Dealing with Sellers
It is also important to understand how to deal with the seller as well. Sometimes a seller may want to remove items from the home that the buyer might consider as part of the home such as a sound system, or a barbeque or basketball goal. It is important to have an advocate who makes sure that all of these issues are up front with the buyer, seller and bank before closing so that there are no surprises and no one comes away from the deal disappointed. If you are a buyer who is looking for investment properties, knowing seller intent can be useful as well because many times you will have a built-in tenant that is already remaining in the property. In some cases you’ll have a seller who’ll want to rent back the property from you.
Investors can also reap the rewards of getting to lock in a good price up front that may require some negotiating, but can feel satisfied that the property can be bought for less than the market value at the time of close. This provides an excellent cushion to the investor that can lead to maximum profits if the market goes up over time as it likely will over the coming years. Our market right now is going up on a month-by-month basis. We have seen a 31% return in our properties in the last 12 months. People who purchased short sale homes 12 months ago are able to sell them today for profit. That’s not always the case in traditional real estate, so looking to buy a short sale property might be the way to go for you.
Check Out The Batchelor Group
If you have questions, The Batchelor Group would love to help you out. You can give us a call anytime day or night. We’ll step you through the short sale process. We’ll explain to you the counteroffers that may happen through the bank. We’ll explain to you how to negotiate with the seller, and most importantly, we will explain to you how to get your offer accepted. That is the key in this market where we are seeing multiple offers on many properties, but if you have a team in place that deals with short sales, one of the top short sale agents in the entire City of Las Vegas, Nevada, we can go ahead and help you accomplish your dreams, make you money on the transaction, and you’ll be pleased when you buy a home through The Batchelor Group.
Key Points To Remember:
- Short sales provide excellent opportunities to negotiate with the bank for a great price on a home.
- The negotiation skills of an experienced agent are essential in dealing with both the bank and the seller.
- Investors can gain maximum profits with short sales with current market conditions.
- The Batchelor Group has profession agents who can help you anytime in finding the short sale home you have been looking for.