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An expert Real Estate Profesional can save you money - Guranteed!Call us: (203) 987-6255 Ext 111.
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Before signing a contract with any real estate agent, make sure you know EXACTLY how your home will be marketed.
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 Buying a Short Sale does not have to be hard. It can however be time consuming, but patience can yield high rewards
The main thing to realize is that it will take time. Some buyers have waited nearly 4 to 6 months to close on a short sale.
What is a Short Sale?
A short sale means the seller's is distress (hardship) and is asking their lender/servicer for a short payoff on their loan because they owe more than what the home is worth. The lender needs to typically review financial information for the seller and determine if it is in their best interest to accept the short. Most lenders will look this info with along with a Broker Price Opinion or appraisal and then they weigh all the factors. Your offer should be within 90% of fair market value. The seller will have settlement charges that will bring the net to the bank at around 82%. Important to know, because you'll get a good deal but not typically a steal of any kind. Your agent should be well versed in this since there are money things that could go haywire and if your realtor is not aware of the process they may sell you false hope and waste your time. For more info, or for good short sale representation on the buyer or seller side call us at 203-257-9954
Pricing >The Value of Your House
One of the sayings from the "gold-rush" days--"Them that's got the gold, sets the price!"--is also a principle that applies to real estate. We say that a house is only worth what someone will pay for it, even though the owner, the bank, and the agent all have their own opinions about the "market value" of a home. In other words, no sale ever takes place until the buyer agrees with the price.
How can sellers arrive at the maximum "fair" price that buyers are willing to pay? Buyers (and appraisers) make their decision based on comparisons. While shopping for a home, buyers will visit many similar homes in their price range and measure the features of each one against the price. They decide which house offers them the maximum value for the price. Buyers do not expect a home to be a "steal" or dramatically under-priced, but they do expect it to be a fair value.
Sellers must determine the value that their home offers in order to arrive at the right price. The real estate agent will advise the sellers what buyers should be willing to pay for their home, but the asking price is set by the seller.
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| Q |
What makes the structure of the Hoover Dam unusual?
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| A |
The Hoover Dam was built to last 2,000 years, and is constructed of concrete that will not be fully cured for another 500 years. |
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