Pennsauken | Camden County | NJ | Short Sale

One of the questions that I've heard over and over again from buyers is, "Why would I want to waste my time trying to buy a short sale when there are so many other homes on the market?" This question often comes from buyers who have heard that these transactions can take 6 months to a year to complete, and rarely if ever actually close. While this may be true of many short sales, it is not the norm when a local team of professionals is working on the transaction. The one thing that I would always recommend to my buyers is that they only purchase a short sale where the seller has an attorney working on their behalf. That's right to protect my buyer, I want the seller to have an attorney, and not just any attorney, but one that specializes in negotiating short sales. I have found that this is the single most important determinant of the length of time that it takes to get these transactions closed. As long as we can reasonably expect to get the short sale approved in 60-90 days, which is common, I would say the biggest reason to buy a short sale would be the price. They typically sell at a 10-20% discount to TODAY's market price.

If you need additional reasons to buy a short sale, keep an eye out for future posts.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com