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Charlotte University, Ballantyne and Lake Norman Homes | 704.608.2794Charlotte University, Ballantyne and Lake Norman Homes | 704.608.2794

Specializing in homes in University City, Ballantyne and Lake Norman areas of Charlotte

Charlotte University, Ballantyne and Lake Norman Homes

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Advantages and Disadvantages to Buying a Short Sale

Advantages and Disadvantages to Buying a Short Sale

For buyers, snagging a short sale can be a great deal. You may have the chance to buy a home at slightly below its fair market value – but it has its downsides, too.

Advantages to Buying a Short Sale

Most sellers use a short sale as a way to avoid foreclosure. (Contrary to what many people think, foreclosure is a nightmare for lenders, too – it’s costly and time-consuming.)

That means if you buy a short sale, you’re likely helping the seller quite a bit.

However, there are other advantages to buying a short sale, too. Typically, you’ll be able to buy the house at a shade below (or, if you’re lucky, quite a bit below) its fair market value. That can give you the opportunity to buy a house you couldn’t ordinarily afford.

Disadvantages to Buying a Short Sale

The biggest disadvantage to buying a short sale is that it takes a while. An ordinary transaction can close in about 45 days, give or take – but a short sale takes much longer because the lender has to wade through the deal and make sure it’s as advantageous as possible. Even when you and the seller agree, there’s no guarantee that a lender will approve the sale, which means your long journey could end in disappointment.

The bottom line is that you should talk to your Charlotte Realtor® about all your options. He knows the market, and he can help you find the perfect home in your price range.

Are You Buying a Home in Charlotte?

If you’re moving to Charlotte, we can help you find the perfect home. Give us a call at 704-608-2794 or get in touch with us online to let us know what you’re looking for. We’ll help you find it!

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Posted in: Home Buying Tagged: Short Sale

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Charlotte NORTH Communities

  • University City
  • Concord – (Cabarrus county)
  • Harrisburg – (Cabarrus county)
  • Huntersville – (Lake Norman)
  • Cornelius – (Lake Norman)
  • Davidson – (Lake Norman)
  • Denver – (Lake Norman)
  • Mooresville – (Lake Norman)
  • Sherrills Ford – (Lake Norman)
  • Troutman – (Lake Norman)

Charlotte NORTH Communities

  • University City
  • Concord – (Cabarrus county)
  • Harrisburg – (Cabarrus county)
  • Huntersville – (Lake Norman)
  • Cornelius – (Lake Norman)
  • Davidson – (Lake Norman)
  • Denver – (Lake Norman)
  • Mooresville – (Lake Norman)
  • Sherrills Ford – (Lake Norman)
  • Troutman – (Lake Norman)

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Charlotte NORTH Communities

  • University City
  • Concord – (Cabarrus county)
  • Harrisburg – (Cabarrus county)
  • Huntersville – (Lake Norman)
  • Cornelius – (Lake Norman)
  • Davidson – (Lake Norman)
  • Denver – (Lake Norman)
  • Mooresville – (Lake Norman)
  • Sherrills Ford – (Lake Norman)
  • Troutman – (Lake Norman)

Charlotte NORTH Communities

  • University City
  • Concord – (Cabarrus county)
  • Harrisburg – (Cabarrus county)
  • Huntersville – (Lake Norman)
  • Cornelius – (Lake Norman)
  • Davidson – (Lake Norman)
  • Denver – (Lake Norman)
  • Mooresville – (Lake Norman)
  • Sherrills Ford – (Lake Norman)
  • Troutman – (Lake Norman)

Charlotte NORTH Communities

  • University City
  • Concord – (Cabarrus county)
  • Harrisburg – (Cabarrus county)
  • Huntersville – (Lake Norman)
  • Cornelius – (Lake Norman)
  • Davidson – (Lake Norman)
  • Denver – (Lake Norman)
  • Mooresville – (Lake Norman)
  • Sherrills Ford – (Lake Norman)
  • Troutman – (Lake Norman)

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Pruitt Miller Realty Group - Huntersville
Homes for sale in Charlotte NC
13420 Reese Blvd W
Huntersville, NC 28078
Direct Phone: 704-608-2794

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