Looking to purchase a short sale?


	A short sale happens when the homeowner's lender consents to collect a reduced sum to release a mortgage. For more information, you can contact me through my site or e-mail me. I'm happy to answer any questions you have regarding real estate short sales.

Purchasing a short sale in Louisville, Kentucky on your own is risky. Contact Louisville Metro Realty for expert advice.

Can I get a good deal on a short sale?

Sometimes. Many people hear the term "short sale" and instinctively think of a seller that is in financial trouble and must sell their house quickly to avoid further financial problems. This is occasionally 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 is current, but property values have declined. In these instances the reduced price may in fact be consistent with true market values rather than below.

How do I buy a short sale?

Before making any purchase offers, do your homework. Using an experienced real estate professional from Louisville Metro Realty to support your research of a property will help you make knowledgeable decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Locating this info can help you decide how much to offer.
Use a REALTOR^® with short sale expertise. The real estate agents at Louisville Metro Realty can aid you in expediting the transaction and ensure that you're protected. Don't allow inexperience to delay the closing process. Let our experience and knowledge work for you.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. It's not uncommon that your offer will be sent to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are usually non-negotiable when dealing with a short sale. The lender will sell the property just the way it is which means the lender won't be paying for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Louisville Metro Realty, when we write an offer, we will be looking out for your interests first and will always recommend that you make your offer contingent upon the outcome of the inspections.

If you are ready to buy, whether it is a short sale or a typical home sale, Louisville Metro Realty can help you. Use our experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the full process.

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	3.87%	4%
15-yr Fixed	3.16%	3.33%
1-yr Adj	2.84%	3.52%

* national averages

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