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Looking to buy 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. If you have questions about real estate in Edmond, Oklahoma, contact me here or e-mail me
Can I get a bargain on a short sale?
The short answer is "sometimes". Many people hear the term "short sale" and automatically think of a seller that is insolvent and needs to sell their home quickly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of 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 depreciated. In these cases the reduced price may in fact be consistent with actual market values, not below.
What's involved in buying a short sale?
When you are ready to buy, whether it is a short sale or a typical home sale,
Metro First Realty can help you. Apply my experience and knowledge of real estate to feel confident you are getting a fair deal and are protected during the entire transaction.