Looking to make a deal on a short sale?


	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale.

Purchasing a short sale in Roseville, California on your own is risky. Contact Lyon Real Estate for expert advice.

Can I get a good deal on a short sale?

Sometimes. Many people hear the words "short sale" and routinely think of a seller that is in financial trouble and must sell their property fast to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have depreciated. In cases such as these the reduced price may in fact be consistent with true market values instead of below.

Are you ready to buy a short sale property?

Always do your research before making any offers. Using an experienced REALTOR^® from Lyon Real Estate to assist you with researching a property will help you make informed decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this information can help you decide how much to offer.
Hire a real estate professional with short sale knowledge. The real estate agents at Lyon Real Estate can help expedite the transaction and make sure you're protected. Don't permit inexperience to hold up the closing process. Put our experience and knowledge to work in your favor.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Be aware 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. A lot of the time your offer will be sent to a committee for approval which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are generally not negotiable when dealing with a short sale. The lender will be selling the property as seen which means the lender will not be paying for repairs. Be sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Lyon Real Estate, when we write an offer, we're looking out for your interests above all else and will always recommend that you make your offer contingent upon the inspection results.

When you are ready to buy, whether it is a short sale or a typical home sale, Lyon Real Estate is available for you. Use our experience and knowledge of real estate to be certain that you're getting a fair deal and protect yourself during the full matter.