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!