The is no denying that buying a West Knoxville or Farragut short sale is easy. The whole process is uncertain and there are no guarantees that the wait will be worth it. After all, the lender could ultimately deny the sale. Still, for those buyers who have the time and patience, the wait can be worth it. In Part V, of the series, “How To Buy A West Knoxville Short Sale,” we will give you a few tips for success on how to survive the short sale process.
Give yourself plenty of time. In most traditional real estate transactions, buyers have a specific time frame of when the purchase must be completed. With short sales, having a specific time frame will only cause you frustration. The lender with who the short sale is being negotiated is in no rush, more than likely, they are swamped with short sales and are not going to give into pressure from a buyer. So your best defense, in this case, is making sure you have enough time. Make sure you are living in a place where to can afford to stay a few months extra.
Set yourself up for success. The best way to do this is picking an agent with experience. They will help you write an offer that protects your best interest and will be able to keep you informed. They will also do their research into the agent selling the home. They will make sure the agent has experience as well and has successfully negotiated short sales in the past. That way, you’re not waiting on something that will never happen.
Be patient and have a great Plan B. Once you’ve done your best to ensure your purchase will be a success, all you can ultimately do is wait. But while you wait, make sure you have a great Plan B. If the sale doesn’t get approved, do you know what your plans will be? Simply knowing that you have a great Plan B will give you some peace of mind. That way, if the sale does fall through, you’re not struggling to come up with something last minute.
Are you considering buying a West Knoxville or Farragut short sale? If so, please do not hesitate to give Knoxville Home Team a call. Rick can be contacted at 865-696-9002 or via email at [email protected]. Kati can be reached at 865-696-1888 of via email at [email protected]. Knoxville Home Team has successfully negotiated many short sales as well as helped guide many buyers through the process, we’d be more than happy to help you find the right bargain for you!