Ready to buy a Short Sale? Advice for Short Sale Buyers on Long Island in Nassau/Suffolk County on the "North Shore" or "South Shore" in the following communities:

Nassau County -Baldwin, Garden City, Levittown, Valley Stream, Manhasset, New Hyde Park, Port Washington, Cold Spring Harbor, Glen Cove, Great Neck, Lloyd Harbor, Muttontown, Hicksville, Oyster Bay, Old Brookville, Roslyn, Massapequa, Wantagh, Bethpage, Seaford, Syosset, Woodbury and the surrounding areas.
Suffolk County - Babylon, Lindenhurst, Bayshore, Brightwaters, West Islip, East Islip, Oakdale, Sayville, Bayport, Huntington, Northport, Stonybrook, Kings Point, Smithtown, Saint James, Port Jefferson, Setauket, Mount Sinai, Miller Place, Center Moriches, Selden, Holbrook, Ronkonkoma, Medford and the surrounding areas.


	A short sale means the seller's lender consents to collect a reduced payment to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm glad to address any questions you have about real estate short sales.

Purchasing a short sale in Smithtown, New York on your own is risky. Contact Cafarelli Realty Corp for expert advice.

Are short sales good deals?

The short answer is "sometimes". Often times people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and needing to sell their house fast to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the discounted price may in fact be closer to current market values, not below.

How do I buy a short sale?

Always do your homework before making any offers. Using a knowledgeable real estate agent from Cafarelli Realty Corp to support your research of a property will help you make educated decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding this data can help you decide how much to offer.
Use a real estate professional with short sale expertise. The real estate agents at Cafarelli Realty Corp can help expedite the transaction and make certain you're protected. Don't let inexperience impede the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will be presented to a committee to approve which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are typically non-negotiable when dealing with a short sale. The lender will sell the property "as is" which means the lender won't be paying for repairs. Be sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Cafarelli Realty Corp, when we write an offer, we're looking out for your interests above all else and will always advise you to make your offer contingent upon the outcome of the inspections.

When you are ready to buy, whether it's a short sale or a typical home sale, Cafarelli Realty Corp can help you. Utilize our experience and knowledge of real estate to make sure that you're getting a fair deal and will be protected during the entire deal.

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