Kim Blanton

How to Buy a Short Sale Property

Short Sale Properties are usually sold just below fair market value and many times are in very good condition

These properties are usually “still lived in” and the homeowner is trying to avoid foreclosure by exercising the option of selling their home  using  a mortgage loan short sale. The homeowner still has ownership of the home and it is not a bank owned property.  The mortgage lender may agree to a sale of the home and short the loan balance by accepting less than what is owed as long as it does not dip below the pre-established limit. It is imperative to have both your buyers agent and the listing agent be qualified and certified in the short sale process.  Either one of these agents not having the proper knowledge can mean the difference of having a successful closing. Read more »