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Follow on Google News | Looking to Buy Short Sale in Inland Empire? Read this first....Are you a homebuyer looking to buy a short sale home at a low price in today’s Short Sale market? Before you go out and start looking for a short sale home, understand the short sale process first.
By: Legacy Homes Realty - "Where Homes Matter" When you purchase a short sale, you, the buyer, have a lot of leverage. The bank who currently holds the mortgage on the home is afraid that the current home owner will just walk away, and let the property slide into a foreclosure, where it may take the bank an additional 5 to 6 months to evict any occupants, all while not receiving any mortgage payments. Further, if the home is foreclosed on, the bank also runs the risk of additional vandalism, break-ins, and additional legal expenses that can cost the bank a lot. Conversely, in a short sale, the homeowner is usually few months late on mortgage payments, and sometimes not late at all, and the bank has the opportunity to sell it before they incur all of these additional burdens that come with a foreclosure process. In the last 3 years, banks have really stepped up their efforts to move to short sales. It’s a win win situation compared to the alternative. There are many benefits to buying a short sale. Choose your Real Estate Agent wisely! In the present real estate market, there are many listing specialists who – while they could be excellent Realtors – simply do not have the experience to effectively initiate a short sale. There are a lot of bumps and hairpin turns on the road to a effective short sale, and a lot of issues can go downhill in the approach. You will want to have a knowledgeable short sale realtor who can assist you direct this hard road. Since a short sale home transaction is so different than other traditional sales, it’s important that you work with a Short Sale specialist in your local market area. That’s where we come in, we are certified HAFA short sale specialists agents, We have work with major lenders like: Bank of America, Wells Fargo, Chase, Citi Fin. HSBC, Ocwen, ING, U.S Bank, Sun Trust bank, GMAC and more. Legacy Homes Realy Office (951) 226-0905 Toll Free (855) 225-3422 www.LakeElsinoreShortSaleSpecialist.com Like us on Facebook Follow us on Twitter End
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