Looking to purchase a short sale?


	A short sale happens when the seller's lender agrees to accept a reduced sum to release a mortgage.

Purchasing a short sale in Long Beach, California on your own is risky. Contact Amer Real Estate & Investment Co for expert advice.

Can I get a bargain on a short sale?

From time to time, yes. Many people hear the phrase "short sale" and instinctively think of a seller that is in default and needing to sell their property quickly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of 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 rather than below.

What's involved in buying a short sale?

Always do your homework before making any offers. Using a knowledgeable REALTOR^® from Amer Real Estate & Investment Co to help you research a property can help you make educated decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring these facts can help you determine how much to offer.
Get a real estate professional with short sale knowledge. The real estate agents at Amer Real Estate & Investment Co can help expedite the transaction and ensure that you're protected. Don't allow inexperience to impede the closing process. Let our experience and knowledge work for you.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will probably take longer than a typical real estate transaction. Be informed that most short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. In most cases your offer will be presented to 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 negotiable when working with a short sale. The lender will sell the property "as is" which means the lender won't be paying for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Amer Real Estate & Investment Co, when we write an offer, we are looking out for your interests first and will always suggest that you make your offer contingent upon the outcome of the inspections.

When it's time to buy, whether it be a short sale or a typical home sale, Amer Real Estate & Investment Co is here to help. Apply our experience and knowledge of real estate to make sure that you're getting a fair deal and remain protected during the complete purchase transaction.