Short Sales: Why Homebuyers Should Think Twice Before Diving In

Short Sales: Why Buyers Should Think Twice Before Diving In

Buying a short sale might sound like a smart opportunity — a chance to grab a home below market value. But before jumping in, it's important to understand that short sales come with significant uncertainty, potential delays, and hidden costs.

✅ The Good

If everything lines up perfectly, a short sale can result in a purchase below market price. However, this depends on multiple approvals, tight lender deadlines, and many factors outside your control. It’s not a typical transaction.

⚠️ The Challenges

• Uncertain Timeline: Short sales can take several months for lender approval. There’s no guaranteed closing date.
• “As-Is” Condition: Sellers in distress usually can’t afford repairs. You’ll need to accept the property condition and pay for all inspection findings yourself.
• Financing Issues: Many short sale homes do not qualify for standard loans because of deferred maintenance or damage.
• No Guarantees: Even after weeks of waiting, the lender can reject your offer or request a higher price.

💡 Final Thoughts

For most buyers, short sales involve more stress than savings. If you have limited time, a specific move-in date, or a set budget, a traditional or updated resale home might be a safer and more predictable path.

Remember: every short sale is different. Having an experienced REALTOR® who understands the process and knows what to watch for can make all the difference.

Written by: Abby Mathew, CRS, SRS, ABR®
Real Broker LLC — Serving Oklahoma City & Surrounding Communities
Over 40 Years of Real Estate Experience
📞 Call Abby | 🌐 abbymathewhomes.com