Buying A Short Sale

short sale atlanta

Buying a short sale in Atlanta has become one of the  best ways to get great deal when purchasing real estate. The process of buying a short sale is not very complicated, but must be followed exactly. That is the reason why having professionals to help you with the process is a wise choice.

What Is A Short Sale

The concept of a short sale is rather simple. A short sale is basically offering the bank that owns a loan, that is no longer performing a discounted offer to buy. This offer will save the bank from taking a total loss or having to go through the process of foreclosure. This process cannot occur however unless the bank agrees to the offer being presented.

Qualifying For A Short Sale

Furthermore for a homeowner to qualify for a short sale they have to be in distress. The homeowner has to show an inability to pay for the loan. This can be proven by loss of income due to job loss, being several months behind in mortgage, or unexpected illness that lead the homeowner unable to handle their responsibilities.

Owners Responsibilities After A Short Sale

While a short sale will relinquish the homeowner of part of their debt, it does not help their credit rating. In fact, similar to a foreclosure, the homeowner may still be pursued by the bank to pay back the difference between their original loan and the short sale amount. In most cases the bank probably will not pursue any further collections, but they still can exercise that option. So in essence, the true winner of the buying a short sale is the buyer who receives a property at a great discount.

Advantages Of Buying A Short Sale

The advantages of buying a short sale are several. The only way to be successful at these transactions is by knowing the process thoroughly. You cannot begin a short sale unless you are able to get to the table with the banks involved. Doing so requires the right communication and the reputation needed for them to take you seriously.

If you are interested in buying a home in Atlanta through a short sale, World Class Real Estate Services can assist you in finding the best deals available. We have 25 years of experience dealing with short sales and foreclosed homes in the Atlanta area. Our name speaks for itself for buyers of short sales as well as the banks that hold the note.

Given the opportunity, we will make available to you a wide array of short sale options from several different counties in metro Atlanta. You can rest assure that the process of dealing with the banks will be handled with you the client in mind. You can also be secured in knowing that all stones will be turned to enhance your chances of getting an incredible deal.

When you decide to buy a short sale in the Atlanta metro area, Allow World Class Real Estate to earn your business by delivering the best results.