Category Archives for "For Buyers"

Information for buyers of short sale properties in North Carolina.

Charlotte Real Estate Investment and Short Sale Opportunities

The time has never been better to take advantage of the many Charlotte real estate investment opportunities.  According to FinestExpert.com, Charlotte is a Top 10 Market for Real Estate Investments.

The FinestExpert data would confirm that Charlotte is an ideal buy-and-hold real estate market.  For the first-time homebuyer, a property could be found for less than it would cost to rent if the cash flow is right.  For the investor, a strong buy-and-hold market could be an ideal starter property.

But before moving to invest in this undervalued market, make sure you understand the basics of a real estate short sale, and then get the help of a licensed Realtor in the Charlotte area.

Essentially, a short sale involves purchasing a home for a sum that is less than the amount owed on the home.  Why would someone want to sell a home for less than what is owed?  The reasons are sound.

A bank may be able to save a lot of money by letting a house go in a well structured short sale. If the property ends up on the court house steps, they could lose much more.  That does not count the costs of staff, legal work, etc. The trick is being able to do two things well: 1) negotiate a good price for both parties involved in the deal, and 2) be able to keep the paperwork moving through the bank in a speedy manner.

This is where a licensed Realtor can help.  A qualified Realtor can help you navigate the waters quickly and easily, and make a challenging process seamless.  A realtor can also save you money.  A well negotiated short sale can allow you more money to put into improvements, especially those qualifying for tax credits under the economic stimulus plan for 2010.

This is a great time to find Charlotte real estate investment opportunities, whether you are a soon-to-be home owner or an investor looking for properties to add real estate to an investment portfolio.

Short Sale NC: Advantages of Working with a Local Realtor During a Short Sale

In the current real estate market, the purchase of a home by a short sale transaction can make a lot of sense. Buying the home at a less inflated price can save you money. If you really want to succeed, you might want to consider working with a Realtor when completing a short sale in NC.

If you were not going to work with a Realtor, what other options would you have? You may or may not get lucky enough to find a home owner smart enough to negotiate such a deal on their home, but they will NOT be looking out for your best interests. It is not necessarily going to be an easy task. At best, you will still need some legal representation.

You might also end up talking to a real estate investment company or specialist. In this case, you may be working with someone who has the expertise to negotiate with your lending company, and guide the transaction through to closing. You gain some legal and technical expertise here, but there is a catch. The real estate investor is not required to be licensed, and therefore does not have to abide by the same code of ethics as a Realtor. These folks are strictly in the deal to turn a quick profit. They can have a buyer waiting for your house, as the property is closed. The REI route has also become quite the “get rich scheme.” There are lots of people that teach the basic concepts of real estate investment to anyone.  Chances are, you may end up working with someone with little to no experience negotiating a short sale transaction.

The final thing to consider is that, most of the time, banks like working with Realtors for short sale NC transactions. They realize the Realtor will be paid a fairly consistent commission for their work, versus the type of profits that real estate investors can often turn. If they know they are working with someone licensed, with a good reputation in the local community, you will often get a better deal from the bank.  Working with a Realtor during short sale can make the transaction a win-win for you and your lending institution.

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