Looking to purchase a short sale?


	A short sale means the homeowner's lender agrees to receive a reduced sum to release a mortgage.

Purchasing a short sale in Lompoc, California on your own is risky. Contact Century 21 Preferred Realty for expert advice.

Are they good deals?

From time to time, yes. Many people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and needing to sell their house promptly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have declined. In these instances the reduced price may in fact be in line with actual market values instead of below.

Are you ready to buy a short sale property?

Always do your research before making any offers. Using an experienced real estate professional from Century 21 Preferred Realty to assist you with researching a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating this data can help you make a decision about how much to offer.
Hire a REALTOR^® with short sale experience. The real estate agents at Century 21 Preferred Realty can help expedite the transaction and ensure that you're protected. Don't permit inexperience to hold up the closing process. Put our knowledge and experience to work for you.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Know that many short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. It's not uncommon that your offer will be presented to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are generally non-negotiable when buying a short sale. The lender is selling the property as seen which means the lender will not be paying for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Century 21 Preferred Realty, when we write an offer, we are looking out for your interests above all else and will always advise you to make your offer contingent upon the inspection results.

When it's time to buy, whether it be a short sale or a typical home sale, Century 21 Preferred Realty can help. Apply our experience and knowledge of real estate to make sure that you are getting a fair deal and protect yourself during the full transaction.

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Data maintained by Lompoc Board of Realtors may not reflect all real estate activity in the market. Information contained herein has been provided by sellers or other sources and has not been verified by the broker or his agents. Interested persons should independently verify the accuracy of all information.