A hot topic for Charleston SC buyers has been Foreclosures and Short Sales!
Short sale: A Short Sale is a property where the seller owes more on the loan than the selling price or sales price… the proceeds of the sale fall short of what is owed. In the short sale process the bank agrees to accept less than what is owed and in many cases will either discount the original loan amount to satisfy the mortgage or take the difference and have the sellers take a deficiency balance to be paid back over time. A lot of what happens internally at the bank depends on the actual financial hardship of the seller and depending on the circumstances, it can go in either way.
Many times the lender will accept a Short Sale in order to avoid the foreclosure process. In many cases the lender will spend more time and money on foreclosing than it would lose negotiating a short sale. The home also has some small advantages including avoiding a foreclosure on their credit and being able to negotiate what the bank is willing to discount.
The short sale typically happens much faster than a foreclosure and can most times be negotiated within 60-90 days using the help of your Real Estate Professional (that would be me!).
If any of you are interested in locating short sales in the area, always feel free to call me. I have a detailed list of homes that are currently on the market as “Possible short sales”! I am a specialist in negotiating on your behalf as a buyer or a seller.
The Lorentz Group offers the best tools for buyers in the Real Estate market!
Whether you’ve spent years saving and preparing to buy a home, or are unsure if you can afford it, the questions surrounding a house purchase can feel endless. You can find the answers – and peace of mind – by working with Dan Lorentz and ERA Tides Realty , the industry leader in real estate experience and service in the Charleston, South Carolina, area.
Buyers Agent Duties
My mission for any buyer is to provide service that goes well beyond your expectations and creates a friend and business partner for life!
The Buyer’s Agent owes fiduciary duties to the Buyer and must help to save them time and money while purchasing a home. When you engage in an agency relationship with me it is my duty to protect you using the following guidelines including obedience, loyalty, disclosure, confidentiality, accounting, reasonable care and skill. A sound purchase starts with choosing a professional and experienced agent and using their skills to help find you the perfect first home, second home or investment.
- We will search the data base of homes and locate the best fitting properties for you to view.
- We will listen to you and understand exactly what you want.
- We will provide a detailed comparative price analysis of each home. This will ensure you are getting the most home for the price.
- We will negotiate the offer and contract for you and explain all of the terms associated with the contract of sale.
- We will navigate all of the conditions and contingencies of your contract.
- We will assist you in selecting inspectors to make sure your future purchase is thoroughly evaluated.
- We will negotiate repairs or credits for any defective items discovered in the initial home inspection .
- We will help locate insurance carriers to help you get the best possible rate for your home owners insurance policy.
- We will assist in determining the best financing options.
- We will set up the closing/settlement with the attorney and discuss the time-frame and process for closing.
- We will be responsible for making sure all documents are provided to the attorney and the settlement commences as scheduled.
- We will assist in preparing you for your move by coordinating utilities, movers and anything else you may need assistance with.
- We will assist in setting up and executing the final walk through of the property prior to the closing.
- We will attend the closing with you to verify everything is followed to the letter of the contract.
- Our job is not done yet. After closing we will verify the deed and mortgage have been filed with the county. We will then make sure you are 100% satisfied with your new home.
- Our goal is 100% satisfaction every time.
Contact us today if your looking for a home in the coastal South Carolina region!
Comments or questions are welcome.
