New San Jose Short Sales Announces Tips for Buyers when Searching for Homes for Sale
New San Jose Short Sales announces buyer tips for people trying to find homes for sale. the following pointers are especially helpful in today’s market because of the number of short sales that exist on the market.
Short sale homes in the San Jose market are a great buy for potential buyers because they are listed at a reduced rate. These below market price homes intrigue many buyers because the price is such a great deal. These short selling homes are great deals however, many buyers should remember of certain things. The realty company, New San Jose Short Sales, offers several tips for buyers during this situation.
The first tip offered by New San Jose Short Sales is to not except short sale homes to be in great condition for an obvious reason. the rationale is because since home buyers cannot afford to pay the mortgage, quite likely the sellers cannot afford to maintain the house. this suggests many rooms may need cosmetic touches or other elements may need total repair.
One tip is to look for short sales which are more recently built because the mechanical components are likely to be in good condition. Overall, the house may need cosmetic updates.
The second tip shared by New San Jose Short Sales is about financing. short selling homes for sale in San Jose are already at a reduced rate so creative financing may not be possible. Mortgage companies may like better to accept contracts that offer 100% cash financing instead of contracts which require financing. this is often because the mortgage company wants a solid contract since they have already lost money.
New San Jose Short Sales advises to not expect a quick deal when dealing with homes for sale in a short sale process. This process are often quite lengthy because the sellers and the mortgage company must agree to all elements of the contract.
Another piece of recommendation is to not bid too low. short selling homes in San Jose are already listed for a reduced price and many banks are seeking to gain back some of their lost money. Therefore, the bank will work closely with realtors to work out fair market value and will likely not accept much below this.
New San Jose Short Sales announces advice for potential home buyers when trying to find homes for sale. the following pointers are valuable pieces of information which can make the home buying process in today’s market easier.