Want to purchase a short sale?


	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, simply contact me through my site or e-mail me. I'm happy to address any questions you have about real estate short sales.

Purchasing a short sale in Burlingame, California on your own is risky. Contact THIAT LIANG (broker, 650-888-5829, former Prudential Ca. Realty Top Producer and Diamond Club) for expert advice.

Are short sales bargains?

From time to time, yes. Often times people hear the term "short sale" and routinely think of a seller that is insolvent and needs to sell their property promptly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these instances the discounted price may in fact be closer to current market values, not below.

How do I buy a short sale?

Always do your research before making any offers. Using a knowledgeable real estate professional from THIAT LIANG (broker, 650-888-5829, former Prudential Ca. Realty Top Producer and Diamond Club) to help you research a property will help you make knowledgeable decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you make a decision about how much to offer.
Get a real estate professional with short sale knowledge. The real estate agents at THIAT LIANG (broker, 650-888-5829, former Prudential Ca. Realty Top Producer and Diamond Club) can aid you in expediting the transaction and make certain you're protected. Don't allow inexperience to delay the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will go before a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are normally not up for negotiation when buying a short sale. The lender will be selling the property just the way it is which means the lender will not be paying for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At THIAT LIANG (broker, 650-888-5829, former Prudential Ca. Realty Top Producer and Diamond Club), when we write an offer, we're looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.

If you are ready to buy, whether it's a short sale or a typical home sale, THIAT LIANG (broker, 650-888-5829, former Prudential Ca. Realty Top Producer and Diamond Club) can help. Utilize our experience and knowledge of real estate to be certain you're getting a fair deal and are protected during the full deal.