UNITED STATES, California (January 2011) – New San Jose Short Sales announces buyer tips for people looking for homes for sale. These tips 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 value homes intrigue many buyers because the price is such a great deal. These short sale homes are great deals however, many buyers should be aware of certain things. The realty company, New San Jose Short Sales, offers several tips for buyers in 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 reason is because since home buyers cannot afford to pay the mortgage, more than likely the sellers cannot afford to maintain the house. This means many rooms may need cosmetic touches or other elements may need total repair. One tip is to search for short sales which are more recently built because the mechanical components are likely to be in good condition. Overall, the house may just need cosmetic updates.
The second tip shared by New San Jose Short Sales is about financing. Short sale homes for sale in San Jose are already at a reduced rate so creative financing may not be possible. Mortgage companies may prefer to accept contracts that offer 100% cash financing instead of contracts which require financing. This is because the mortgage company wants a solid contract since they have already lost money.
New San Jose Short Sales advises not to expect a quick deal when dealing with homes for sale in a short sale process. This process can be quite lengthy because the sellers and the mortgage company must agree to all elements of the contract.
Another piece of advice is to not bid too low. Short sale 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 determine fair market value and will likely not accept much below this.
New San Jose Short Sales announces advice for potential home buyers when looking for homes for sale. These tips are valuable pieces of information which can make the home buying process in today’s market easier.
Contact:
San Jose Short Sales Specialist
Mark Brandemuehl
1730 S El Camino Real
San Mateo, CA, 94402
United State
510-409-8876
[email protected]
www.newsanjoseshortsales.com
