Are there any tricks to buying a short sale?
Hey guys, Kelly Cook here with the Cook & Associates Real Estate Advisors, your :k1: real estate and short sale specialists. We are part of The Real Brokerage here in the :k1: area. We can be found online at www.AZKCRealEstateGroup.com. Now the question we are addressing today is a good one and it’s a very common one and there is not really a specific manual to answer this one. So the question that we want to talk about is how do you buy a short sale? How do you go about purchasing a short sale and have it be a real possibility that you actually buy it and have it be your house one day?
That is a great question and there are other surrounding questions to that general question such as, do you have to put any earnest money down? Do you have the ability to walk away if the bank takes months or even years to approve the short sale? Will the bank make any repairs? Does the bank have any liability or are they required to approve the short sale under certain circumstances? Those are all great questions guys and we would love to sit down with you and give you a free consultation to go over those specific things.
You really want to have someone who knows short sales on both sides of the fence. Meaning, you want someone who understands the buyer’s standpoint and the seller’s standpoint. This will really give you the opportunity to give yourself the best shot. Trust me, there are some deals out there when buying short sales and that’s why a lot of investors like them too. You just have to have a little patience and the right representation with someone who knows and can advise you on the requirements and the expectations of the actual closing. There are some short sales upfront that we will know automatically by asking the right qualified questions to the listing broker if it will have a good chance or not of getting approved down the road. This is based upon things like who the servicer is or the bank the investor is. We can give you more details at a later time.
Again, I’m Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale experts and we’re here to help. So please give us a call so we can consult with you guys and help you find that right property that is a short sale and help you navigate through the waters because again, it’s not something that’s very common. Our phone number is 480-442-9868 or you can email us at info@cookandassociatesaz.com. We would love to go over any questions you have about purchasing short sales in the :k1: area. We look forward to hearing from you soon, take care.