6 Tips For Buying a Short Sale

Holden Beach short salesHolden Beach short sales are presenting some truly amazing bargains and you’re fortunate if you get one of these great deals. To get the best deal, it's important to follow these critical tips when buying. This short guide will give you the basics of buying Holden Beach short sales in the current market.

1. Know What You’re Looking For

Make sure you know what you want in a home, how much you can afford to pay, and where you want to live.

2. Know the Market Where You Buy

You need to know the local market. One of our agents at Brunswickland Realty would be happy to assist you with this.

3. Get Your Financing in Order

In many cases you’ll be dealing directly with banks and mortgage companies. When you make an offer on a short sale, financing or proof of funds must be in place.

4. Look at Properties

Once you know what you want, it's time to view properties. Viewing properties is a process. You should start with a list of properties that interest you. You can get that list from our agents at Brunswickland Realty.

5. Make the Offer

The offer you make will be based on a few main factors:How long has the property been on the market? Are there other offers? ?Is there competition in the price range.

If the property has been on the market for a long time, going low makes sense. For short sales, you will often wait for weeks or months for an answer from the banks, so patience is needed. You have a better chance of going low with short sales.

The decision on making an offer on a property is yours and depends upon you more than anything else. A real estate agent can offer guidance, but you need to make the decision.

6. Once Your Offer is Accepted

Once your offer is accepted you must get a property inspection done. An inspection is necessary for you to protect yourself. If things are found that require repair you can use this to negotiate your price down or if the repairs are more than you want to deal with you can walk away from the property. You won’t get your property inspection fee back but you’ll get your deposit fee returned.

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