Buying a Short Sale

If you are an investor looking for a deal that gives you instant equity, or a home buyer just looking for a good deal, buying a short sale may be your answer. The risks that go along with foreclosing on a property have mortgage companies looking for ways to avoid foreclosure and reduce the losses incurred when a loan goes delinquent.

A short sale allows the mortgage holder to limit losses on a delinquent loan and take the loan off their books. The discount a lender is usually willing to approve means the buyer get’s a very good deal. Keep in mind, too, that short sales are a significant portion of the real estate market currently in Riverside and Corona and throughout the Inland Empire.  There are so many short sales, that it is often hard for a buyer who doesn’t want to consider short sales. 

If you are looking to close in less than 60 days, then a short sale might not be a good option for you.  Short sales can take many months of waiting. 

Lender's Loss  -- Your Gain

At Pedersen Real Estate, we handle short sales for both buyers and sellers. We get short sale properties sold for sellers, we help buyers find the right short sale and we get short sale files approved by mortgage lenders.

Experience and Expertise

Virtually every step in the short sale process requires short sale experience in order to achieve the desired results. When it comes to working with a buyer to find the right short sale property our expertise and experience is critical to help determine if a short sale is even viable.

Get the right Short Sale

Because not every short sale is a good deal, and not all short sale files get lender approval from the lender.  In fact, many Short Sale files are declined.  We can save you time, trouble and a great deal of money, by guiding you through the process.

Tips on getting your offer accepted

More Short Sale Details

Generally, the lender will not pay for customary items that a seller would pay. These include home protection plans for the buyer, buyer credits of any kind and pest / termite inspections. A buyer will be asked to purchase the property "as is," which means the seller nor the lender will make any repairs.  It is also possible that a buyer may have some additional closing costs that the lender will not cover.