Payson Utah Homes

     Home  |  About Payson  |  Search Payson UT Real Estate  |  Buy a Payson UT Home  |  Sell a Payson UT Home   

Payson Utah Short Sales

How to Buy a Payson Utah Short Sales

Many buyers want to buy Payson Utah short sales. Unlike in a foreclosure, the bank does not own the property in a short sale. However, because the bank must approve the sale (because it is the lender, not the seller, who will be taking a loss on the property) it will seem like the buyer is purchasing the property from the bank. Short sale transactions, however, can be much more time-consuming and patience-testing than bank foreclosures. If you are patient you will be able to find and purchase a Payson Utah Short Sale. Paul Teasdale of Team Teasdale Realty has sold hundreds of short sales in Utah County. Paul knows how to find and purchase a Payson short sale for you.

In some ways, buying a short-sale property is just like a traditional purchase. However, there are a couple of ways in which the purchase agreement are different. The contract will specify that the terms are subject to the mortgage lender's approval. In a normal transaction, the only party who would need to approve the sale is the seller. In Utah we use a short sale agreement as part of the real estate purchase contract. This will help the buyer understand the terms of a short sale.

The contract should also state that the property is being purchased "as-is". While it is acceptable to include language in the contract that allows you to back out of the deal if an inspection reveals considerable problems, in general, you should not expect the bank to lower the price to account for repairs if any problems are revealed. The bank is also unlikely to make any repairs, and the seller, being strapped for cash, is probably even less likely to help out. It is best to negotiate a purchase on a short sale in Payson with the home as-is. Don't expect the bank or the seller to make any repairs they neither party likely will.

Search Payson Utah Short Sales



Payson utah short sale


You Must be Patient When Buying a Short Sale

If you make an offer on a Payson Utah short sale property, be prepared to wait. Paul has seen short sales in Utah County take between 1-25 months to be approved. The average time for a short sale to be approved in Utah County is probably 4-6 months. Many agents may claim a quick 2-3 months but this is a best case scenario. Banks are notorious for taking as long as several months to respond to short sale offers. Remember, there is no guarantee that the short sale will go through so be patient. Paul will take the time to explain the short sale process every step of the way.


 

 

Payson utah homes zillow realtor  Payson utah short sales  Payson utah broker  search Payson utah listings  Payson ut homes  Payson utah real estate                                                                       Payson Utah Real Estate   Payson Utah Short Sales   Search Utah Homes   Payson Utah Realtor  
               
    Payson Market Conditions  |   Payson UT Short Sales  |   Payson UT Bank Foreclosures  |   Payson Utah Realtor
Copyright 2016 Developed and Published by Paul Teasdale. | All Rights reserved | Payson Utah Homes Privacy Policy | 1200+ Homes Sold  |  Site Map