If you’ve been shopping Lake Nacimiento real estate recently and have been weighing the pros and cons of short sales and bank-owned properties versus traditional sales, you may find the following pointers helpful! As a longtime Lake Nacimiento real estate agent that also specializes in area short sales and bank-owned properties, I can assure you that you are not alone in having questions. I have worked with many different buyers and sellers in various real estate situations and, if you’re one of the many shopping homes on Lake Nacimiento and curious if a short sale property may be right for you, I encourage you to contact me. Here is a basic overview and a few tips to keep in mind, should you decide to explore a short sale property as a potential purchase:
–What is a short sale? To be specific, a short sale is when a homeowner sells their Lake Nacimiento real estate for less than the balance owed on their mortgage loan. The lending institution will agree to pay off all or a portion of the remaining loan balance with the proceeds from the short sale.
–Research Properties. Team up with a knowledgeable Lake Nacimiento real estate agent and begin exploring available short sales and bank-owned homes. There can be potential to make a tidy profit after purchasing a short sale, but this all depends on many factors! From the condition of the property to how long you plan to own it, these things can affect its value. Since the property is being sold at a lower price, there is always the possibility to make a profit – But solid research into each home will make a world of difference.
–Explore Financing and Build Your Offer. Typically, this is where properties with banks involved differ from traditional sales. It is always recommended to have a professional Lake Nacimiento real estate agent at your side to help in navigating the sometimes-confusing paperwork and application process. Do your part to get pre-approved and decide on a financing route prior to drafting your offer to further ensure a smooth transaction. Organizing all required paperwork and meeting each deadline can seem tedious, but will certainly be worth it in the long run once the keys are in your hand!
Oak Shores Realty can assist you with all of your Lake Nacimiento real estate needs. We are always available to answer questions and help past, current and future clients with buying, selling and everything in between!
Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.