Short Sale FAQs

buying-short-sale

Considering purchasing a short sale?

For many it’s a great way to break into homeownership and possibly find a more budget-friendly deal – especially in a hot market like Denver. Here we’ll cover a few frequently asked questions about the short sales process. These may help you determine if a short-sale purchase is right for you.

What is a short sale?
Simply put, a short sale is the sale of a property for less than what the owner still owes on the mortgage. It’s an alternative to foreclosure when a homeowner needs to sell and can no longer afford to make their mortgage payments.

Can any agent sell me a short-sale property?
No. While it’s not as challenging as you may think, a short sale can get a bit complicated, so it’s extremely important to find a real estate professional who’s experienced with these types of sales. In fact, more than any other type of residential real estate transaction, a short sale should be handled only by a real estate broker who has substantial experience with the short sale process, and a strong track-record of success in negotiating short sales for their clients.

Since 2003, Metrowest has been Denver’s premiere resource in short sale and REO properties. IF you’re a first-time buyer in the Denver metro area, we’d be happy to help you get started. Give us a shout today – we’d love to work with you!

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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