Top 3 Tips From Myrtle Beach Short Sale Professionals

Top 3 Tips From Myrtle Beach Short Sale Professionals

Most professionals will agree that a Myrtle Beach short sale is a great way for buyers to save money on a home purchase. The best thing about a short sale is it benefits homeowners in that they are able to get away from their mortgage debt without tarnishing their credit record and without having their home foreclosed. Despite these however, short sale transactions could take several months to be finalized and closed, requiring lots of negotiating and approval requests.

If you really want to land a successful sale, here are three tips from Myrtle Beach short sale professionals.

1. Ensure a legal back up by hiring a property lawyer – Short sale transactions can get complicated and is quite tricky. This is why you will need to hire a property lawyer to ensure you are making the right legal decisions. Most importantly, a real estate lawyer will help ensure that you are unknowingly taking on debt from the purchase by collaborating with title companies and doing some research to ensure the title is clean.

2. Work hard to look good not only to the seller but also to the seller’s lending institution – This can be easily achieved by showing and proving that you are in a stable and impressive financial standing. Prepare sufficient money for the down payment as you possibly can. Ensure you are preapproved by your own lender prior to making an offer. Plus, the seller’s lending institution would most likely instantly approve your request for a short sale if you have no contingencies and remain clear on your goal of purchasing the house. Keep in mind that most lenders will approve a short sale, if the buyer proves he is in a stable financial condition to buy the house.

3. Never give up! – Probably the best advice Myrtle Beach short sale professionals can give you is to never give up. Accept the fact that short sale transactions are difficult to get approved and pull through. But if you are really intent in making money from this venture, don’t get defeated at your first failure or rejection.

There are various reasons why a short sale transaction might fail. This may be due to a disagreement on the terms of the sale between the seller’s lender and the seller or unacceptable terms of the seller’s lender. Keep in mind that you can always try again. And the more short sale transactions you go through – whether a success or a failure – will surely expand your knowledge and expertise.

For more information on Myrtle Beach short sales, call Jerry Pinkas now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC

The only experts you need when it comes to Myrtle Beach short sale!

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