Selling with a Short Sale

A short sale is when a lender or bank is willing to allow a loan to be paid off for less than is owed on the loan balance.

There are classes that Real Estate agents can take to certify them to be “Short Sale Specialist”. Be careful of these "Experts" that have attended a 3 or 4 hour class since there is no "standard" way to do a short sale because every mortgage company and bank has their own procedure. The experience of your broker is more important than a quick class that an agent can take.

1. The advertised asking price of a short sale listing may NOT be a legitimate "Buy Now" price because many agents put low prices in fishing for short sale offers and the process may take from a few weeks to several months.

2. Read the lender required addendums to the contract VERY carefully because you are giving away many of your rights in many cases. The short sale properties are normally sold "As Is" and many do not provide a sellers property disclosure. All lenders have different procedures, so be careful!

3. ALWAYS GET OWNERS TITLE INSURANCE! You are buying a DISTRESSED property and the OWNERS title insurance is the only way to protect yourself from any addition liens on the property.

There is a lot more involved in buying a short sale so if you would like the professional guidance of seasoned Real Estate Brokers with over 20 years of experience each, Give us a call.

Licensed in Georgia and North Carolina and South Carolina Georgia Judith L. Crawford, Qualifying Broker, License # 129264 James D. Crawford, Associate Broker, Georgia License # 138630 Dream Street Properties, LLC, a Service Disabled Veteran Owned Small Business Licensed in Georgia, Firm # H-34954 2635 Sandstone Drive, Lawrenceville, Gwinnett County, GA 30043. All information contained herein is believed to be accurate but is not warranted.
North Carolina James D. Crawford, Qualifying Broker North Carolina Broker's License # 263439 Dream Street Properties, LLC, Licensed in North Carolina, Firm # C 20707 2635 Sandstone Drive, Lawrenceville, Gwinnett County, GA 30043. All information contained herein is believed to be accurate but is not warranted.
South Carolina Judith L. Crawford, Broker in Charge South Carolina Broker's License # 76810 Dream Street Properties, LLC, Licensed in North Carolina, Firm # 17113 2635 Sandstone Drive, Lawrenceville, Gwinnett County, GA 30043. All information contained herein is believed to be accurate but is not warranted.
© Copyright 1997-2009 Jim and Judy Crawford , Dream Street Properties, LLC All Rights Reserved. "Dream Street" is a registered US Trademark of Dream Street Properties, LLC, Jim and Judy Crawford