Want to make a deal on a short sale?

A short sale means the homeowner's lender consents to get a reduced payment to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm glad to address any questions you have regarding real estate short sales.

Purchasing a short sale in Sherman Oaks, California on your own is risky. Contact Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 for expert advice.

Can I get a bargain on a short sale?

Every now and then a good deal will come along. Many people hear the phrase "short sale" and routinely think of a seller that is in trouble and must sell their house promptly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have declined. In these instances the reduced price may in fact be consistent with actual market values, not below.

Are you ready to buy a short sale property?

  • Before you make any purchase offers, do your homework. Using a qualified real estate agent from Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 to support your research of a property can help you make educated decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this data can help you determine how much to offer.
  • Hire a REALTOR® with short sale expertise. Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 can help expedite the transaction and make sure you're protected. Don't permit inexperience to slow down the closing process. Let my experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be informed that many short sales will not close in 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will be sent to a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are generally 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. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090, when I write an offer, I will be looking out for your interests above all else and will always suggest that you make your offer contingent upon the inspection results.
When you are ready to buy, whether it is a short sale or a typical home sale, Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 is here to help. Apply my experience and knowledge of real estate to make sure that you're getting a fair deal and are protected during the full process.

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