Want to make a deal on a short sale?
When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.
Are short sales good deals?
From time to time, yes. Most people hear the term "short sale" and routinely think of a seller that is in trouble and must sell their home quickly 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. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these cases the discounted price may in fact be consistent with current market values rather than below.
What's involved in buying a short sale?
If you are ready to buy, whether it is a short sale or a typical home sale,
Greater R.I. Properties, LLC is available for you. Use my experience and knowledge of real estate to be confident you're getting a fair deal and are protected during the complete deal.