Ready to purchase a Short Sale or Pre-Foreclosure?


	A short sale happens when the homeowner's lender has agreed to get a reduced payment to release a mortgage. For more information, you can contact me through my site or e-mail me. I'm glad to address questions you have regarding real estate short sales as they are not "Short" at all.

Purchasing a short sale in Portland, Oregon on your own is risky. Contact Keller Williams Realty Professionals / Dave Van Nus and Jeremy Jordan for expert advice.

Are short sales or Pre-Foreclosures bargains?

Every now and then a good deal will come along. Many people hear the phrase "short sale" and routinely think of a seller that is in trouble and needing to sell their property promptly to avoid further financial problems or a Foreclosure. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In cases such as these the reduced price may in fact be in line with current market values, not below.

How do I buy a short sale?

Always do your homework before making any offers. Using Dave Van Nus's Team from Keller Williams Realty Professionals / Dave Van Nus and Jeremy Jordan 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. Finding this information can help you make a decision about how much to offer.
Use a real estate professional with short sale experience. Dave Van Nus's Team at Keller Williams Realty Professionals / Dave Van Nus and Jeremy Jordan can help expedite the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Let our experience and knowledge work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that most 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 sale terms. It's not uncommon that your offer will go before a committee to approve which will add time - sometimes even 2 to 3 months. We have seen as long as 1 year and as short as a couple weeks depending on the Lender/Investor who owns the Note.
Home protection plans, buyer credits and allowances, and closing cost concessions are typically non-negotiable when buying a short sale, but we have been able to get some costs covered by the lender. The lender is selling the property just the way it is which means the lender will not be paying for repairs in most cases. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Keller Williams Realty Professionals / Dave Van Nus and Jeremy Jordan, when we write an offer, our Team will be looking out for your interests first and will always advise you to make your offer contingent upon the outcome of the inspections, as well as be able to walk away from the property before we get a response from the lender should we find something you like more that doesn't require the long waiting that Short Sales typically have.

When it is time to buy, whether it is a short sale or a typical home sale, Dave Van Nus's Team at Keller Williams Realty Professionals / Dave Van Nus and Jeremy Jordan is here to help. Apply our experience and knowledge of real estate to make sure you are getting a fair deal and are protected during the full deal. Feel free to contact us today! You can also submit a Future Home Questionnaire and we start sending you homes that meet your needs and keep you updated!