Could Buying a Short Sale be the Right Move for You?

The name is a bit misleading as short sale transactions can take longer than a traditional home sale, but the reality is there are several advantages of considering this type of property in your home search. In popular areas with hot real estate markets, like Denver, many potential buyers are adding short sales to their searches to expand their potential housing options. Could it be the right step for you? Read on to find out.

Advantages of buying a short sale:
Just as they would any other home, buyers who opt for a short sale do so for one primary reason: they genuinely like the house. Maybe it’s in their desired school district, or maybe the exterior is great – there could be several reasons. The fact that a home is listed as a short sale might complicate the issue a bit, but the motivating factor is they like the home.

Another reason to consider short sales is because the lower price point makes it worth the hassle. Everyone wants to get a great deal, and there are sometimes bargains to be found shopping for a short sale.

Reduced competition is another great reason to consider a short sale. Short sales can take a while to finalize, and the majority of house hunters aren’t willing to wait. That means that there are fewer people you need to compete with to buy the home. In areas where there a lot of demand but limited supply, bidding wars can drive up sale prices, so less competition can mean a lower price.

If you’re considering purchase a short sale, the first thing you want to do is get an experienced professional on your side. Someone familiar with the process can help you navigate the waters and make the process as smooth as possible. Metrowest specializes in these types of sales – contact us today. We’re here to help you get started!

Ken Blevins

About Ken Blevins

Ken Blevins, CEO of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 24 years of experience in collections, foreclosure/bankruptcy, loss mitigation and real estate disposition (REO). Blevins was an original co-founder of Metrowest in 2003, a Real Estate Brokerage and Services Company focused on the resale, recovery and liquidation of distressed real estate in Denver, Colorado and surrounding metros. Blevins assumed the role of CEO in January 2014 and provides strategic direction and has management accountability for the day-to-day operations. Under his direction, Blevins drives all default management operations to maximize asset value recovery and reduce loss severity through a strategy focused on customer service and state of the art technology. Blevins has 18 years of direct operational experience in all facets of REO Asset Management having managed large national REO Disposition contracts for Fannie Mae, Freddie Mac, Wells Fargo, JP Morgan Chase, CitiFinancial, GMAC Mortgage and other various financial institutions. Blevins specialties include REO asset management, real estate investment, bulk REO acquisitions and distressed asset recovery and liquidation, and he has directed the resolution and liquidation of over ten billion in institutionally-owned residential real estate.

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