Buying Short Sales:
Shopping for a Short Sale property is very similar to shopping for standard listings.
Short Sales are generally listed with the local MLS and the Short Sale sellers are represented by a Broker. Short Sale listings may or may not have all the relevant information you need to make an informed decision and that is where an experienced Broker comes into the picture.
Either the listing agent or the selling agent should have sufficient experience with Short Sales. Preferably both. The listing Broker represents the seller, and the selling Broker represents the buyer.
Short Sale listings can be delivered the same way as standard listings. By email, by fax or other means of digital and traditional communication. Buyers not yet working with an agent can also shop for Short Sale listings using the many online resources available. Detailed information on Short Sales however will not be available, as most MLS’s only show specific property information to the public, and many Brokers listing short sale properties impose various restrictions on buyers submitting offers.
With Short Sales, the buyer is at the mercy of the short sale negotiator’s experience and know how. It is very important to have a buyer broker who understands and has extensive experience with both sides of the transaction in short sale process
Contact us if you are considering buying a short sale property.