Looking to make a deal on a short sale?


	A short sale means the seller's lender agrees to collect a reduced payment to release a mortgage. Should you have any questions about real estate in Oklahoma City, Oklahoma, contact me here or e-mail me.

Purchasing a short sale in Oklahoma City, Oklahoma on your own is risky. Contact Ronck Realty Inc for expert advice.

Are they good deals?

From time to time, yes. Many people hear the words "short sale" and automatically think of a seller that is in trouble and must sell their home promptly to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these instances the "bargain" price may in fact be in line 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 real estate professional from Ronck Realty Inc to help you research a property will help you make educated decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this data can help you decide how much to offer.
Use a real estate agent with short sale experience. The real estate agents at Ronck Realty Inc can help expedite the transaction and make sure you're protected. Don't let inexperience hold up the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best circumstances, 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 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. In most cases your offer will be seen by 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 usually not up for negotiation when buying a short sale. The lender will sell the property as seen which means the lender isn't going to pay for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Ronck Realty Inc, when we write an offer, we're looking out for your interests first and foremost and will always advise you to make your offer contingent upon the results of the inspections.

When you are ready to buy, whether it is a short sale or a typical home sale, Ronck Realty Inc can help. Use our experience and knowledge of real estate to be confident that you are getting a fair deal and will be protected during the whole transaction.