This house I know is a short sale - but how does one buy a short sale? Is it in really bad condition?

Asked by Matt, East Haven, CT Wed Nov 2, 2011

Based on the pictures it looks beautiful.... Not sure if these are recent pictures or not???

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This question is about this property: http://www.trulia.com/property/1069054510-18-Piscetelli-Cir-…

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4
Marcus Santo…, Agent, Litchfield, CT
Thu Nov 3, 2011
Interview three Realtors and ask that same question. Picking a Realtor is like picking an Attorney or Doctor, you need to find one you are comfortable with. Short sale purchases can take an extensive amount of time, depending on the bank and the home owner.
0 votes
Julie Traver…, Agent, Naugatuck CT 06770, CT
Wed Nov 2, 2011
Hi, usually a short sale home is in better condition than one that was foreclosed on as the owner still occupies the premises. You would put an offer after you see the home like any other property but it would be subject to the lender's approval. One that has already been approved goes much faster than one that needs to approved. If you have any other questions or need further assistance, please contact me. I have done many successful shortsale transactions. Julie Lucia, Realtor, Showcase Realty, 203-578-5631 cell; julie@julierealestate.com
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Chuck Sienki…, Agent, Milford, CT
Wed Nov 2, 2011
The process for purchasing a property that is a short sale ( meaning the amount of the mortgage is greater than the anticipated sale price) is similar to buying a non short sale house,with the exception that the lender has final approval of the sale price.The other difference is that the process takes longer than a conventional sale and typically are sold "as is"...................Chuck
0 votes
Frank Alvara…, Agent, New Haven, CT
Wed Nov 2, 2011
Hello Matt,

A short sale is not much different than a convential sale. The only difference is the fact that the owner owes his/her mortgage company more than what the house is currently worth. When you buy a short sale you would present an offer to the seller and the seller would still have to agree and sign the contract then the signed contract is presented to the seller's mortgage company and they give the go ahead to proceed with the sale if they agree to the purchase price.

There are many homes being sold as short sales and that does not necessarly mean the home are in poor condition. There are homes that need repair but not all. Again a short sale only means the mortgage owed is more than the homes current market value.

If you would like more information on this house or any other, feel free to contact me.

Frank Alvarado
(203) 752-8232

Licensed in the State of Connecticut
Representing Doug Calcagni Associates

Licensed in the State of Florida
Broker for Alvarado Real Estate Services
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