The short sale process can be a tricky process for both the seller and the buyer. When discussing short sales, many people tend to focus on the seller and how the process effects them. However, the buyer is also very important to the process and stands to gain, or lose, the most if the process isn't handled correctly. Since every lender is different, navigating ฝากขายบ้าน a short sale can be difficult for buyers. If a buyer can successfully manage the process, they stand to gain a great deal on a home. There are a few things anyone considering buying a short sale should know to make sure they come out ahead.
It Takes Patience
Unlike a traditional sale, the short sale process can take several months to complete. Buyers are used to being able to put in an offer, find out if their offer was accepted and close within a month or two. Short sales are quite different and there is numerous factors that can hold up the process. The biggest hold up is the bank. Since the bank is agreeing to allow the seller to sell the home for less than is owed on the mortgage, and often less than what it is worth, they hold all of the power. Banks will often hold multiple offers and wait for the best offer. After all, they want to make as much of their money back as possible. It isn't uncommon for buyers to have to wait 3 months to hear back from the bank about their offer and wait another 3 months to close.
Buyers that are in a hurry to purchase are not good candidates for short sales. They simply do not have the time to invest in the process. The short sale process cannot be rushed and buyers are often disappointed when they find that it can take several months to successfully purchase a short sale. However, this doesn't mean that buying a short sale is impossible or should be avoided.
Buyers are advised to get preapproved for their mortgage financing before putting in an offer on the home. This can make or break whether an offer is accepted and, when a bank finally does make up their mind, they want to seal the deal fast. A preapproved buyer has a better chance at having their offer accepted than someone waiting to get financing. Also, buyers should put in their strongest offer right away. Banks do not like to negotiate and it isn't uncommon to have an offer rejected over attempts to low ball. If a buyer is serious about a house they should go in with their top dollar right away.
It Takes Understanding
Another road block for buyers is the condition of the home. Similar to a foreclosure, many short sale homes are listed for "as is" condition. Banks are rarely willing to agree to any repairs and buyers should be aware that they have very little room for negotiating any repairs or upgrades on the property. However, buyers need not be concerned about the property being trashed. Although it is common for previous owners to trash foreclosures prior to moving out, this is rarely the case with a short sale. The seller stands to benefit from the sale by avoiding the hassle of foreclosure, so they generally keep the home in good repair. Buyers should ensure they request a home inspection as part of their offer. If there are any problems or major repairs that need to be fixed, they have the right to walk away from the deal.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น