Ready to purchase 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. For more information, you can contact us through our site or e-mail us. We're glad to address questions you have about real estate short sales.

Purchasing a short sale in Indianapolis, Indiana on your own is risky. Contact The Sanders Group Realty for expert advice.

Are short sales good deals?

Occasionally. Many people hear the words "short sale" and automatically think of a seller that is in financial trouble and needing to sell their home fast to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have declined. In these cases the "bargain" price may in fact be in line with actual market values, not below.

How do I buy a short sale?

  • Before you make any purchase offers, do your research. Using a qualified REALTOR® from The Sanders Group Realty to help you research a property can help you make educated decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Locating this data can help you determine how much to offer.
  • Use a real estate agent with short sale knowledge. The real estate agents at The Sanders Group Realty can assist you in expediting the transaction and make certain you're protected. Don't permit inexperience to delay the closing process. Put our knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Know that many short sales will not close in 30 days or less. Remember that you're not only having to get approval from 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 to approve, which will add time - sometimes even 2 to 3 months.
  • Home 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 isn't going to pay for repairs. Be sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At The Sanders Group Realty, when we write an offer, we will be looking out for your interests first and will always recommend that you make your offer contingent upon the results of the inspections.
If you are ready to buy, whether it be a short sale or a typical home sale, The Sanders Group Realty is available for you. Utilize our experience and knowledge of real estate to feel confident you are getting a fair deal and are protected during the whole deal.
ience and knowledge of real estate to be certain that you're getting a fair deal and are protected during the whole matter.