Ready to buy a short sale?

If a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's owed. For more information, you can contact me through my site or e-mail me. I'm glad to address questions you have about real estate short sales.

Purchasing a short sale in Austin, Texas on your own is risky. Contact Issac W. Harper Real Estate Broker/Realtor© for expert advice.

Are they good deals?

Every now and then a good deal will come along. Most people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and needs to sell their property promptly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. Alternatively, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these cases the discounted price may in fact be in line with actual market values rather than below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using a qualified real estate agent from Issac W. Harper Real Estate Broker/Realtor© to help you research a property can 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. Locating this data can help you determine how much to offer.
  • Hire a real estate agent with short sale experience. Issac W. Harper Real Estate Broker/Realtor© can aid you in expediting the transaction and make sure you're protected. Don't let inexperience delay the closing process. Put my knowledge and experience to 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. Know that many 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 sale terms. In most cases your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home 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 is" which means the lender isn't going to pay for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Issac W. Harper Real Estate Broker/Realtor©, when I write an offer, I will be looking out for your interests first and will always recommend that you make your offer contingent upon the results of the inspections.
When it's time to buy, whether it is a short sale or a typical home sale, Issac W. Harper Real Estate Broker/Realtor© is available for you. Utilize my experience and knowledge of real estate to be certain you're getting a fair deal and protect yourself during the whole deal.

Issac W. Harper Real Estate Broker/Realtor©

P.O. Box 143683
Austin, TX 78714-3683