Short Sale and Fire Sale

Looking to sell your property fast? RE/MAX Real Estate Services can help you do just that with our fire sale option due to covid 19.
We'll work with you to get your property sold quickly and for a great price. Contact one of our RE/MAX Agents today to learn more!

Fire sales are a great way to sell your property quickly and without any complications. If you're looking to sell your home at a fraction of the cost, then a fire sale is the way to go.

So, what is a fire sale?

A fire sale is a sale of assets at a price below their normal market value, typically in order to raise cash quickly in response to an emergency. 

A fire sale may also refer to the sale of assets of a company that has filed for bankruptcy. 

In the real estate market, a fire sale is often used to refer to the sale of a property at a price below its market value, usually in order to sell it quickly. 

Fire sales can be a great opportunity for buyers to get a good deal on a property. However, it is important to do your research and be aware of the risks before making an offer on a fire sale property. 

Here are some things to keep in mind when considering a fire sale property: 

1. The property may be in poor condition.

2. The seller may be desperate and willing to accept any offer, no matter how low.

3. The property may be located in a less desirable area.

4. There may be hidden damage that the seller is not disclosing.

5. The property may be subject to liens or other claims.

6. The title may not be clear.

7. The property may be difficult to finance.

8. The sale may be subject to a short sale, meaning the lender agrees to accept less than what is owed on the mortgage.

9. The sale may be an REO (real estate owned) property, meaning it is owned by the lender and has not been sold at a foreclosure auction.

10. The property may be a short sale or foreclosure, which can impact your credit score.

If you are considering making an offer on a fire sale property, be sure to do your homework and understand the risks involved.

If you're considering a fire sale, here are a few things to keep in mind:

1. Research the market.

It's important to know what similar properties in the area are selling for. This will give you a good idea of what your property is worth and how much you should sell it for.

 2. Get a real estate agent.

Working with a real estate agent can be helpful in the fire sale process. They can give you an idea of what your property is worth and help you find buyers who are interested in a fire sale.

3. Set a realistic price.

When setting a price for your fire sale, it's important to be realistic. Don't try to sell your property for more than it's worth just because you're in a hurry to sell.

4. Be prepared for a quick sale.

Fire sales usually result in a quick sale. Be prepared to move out quickly once a buyer is found.

5. Be flexible on the terms of the sale.

In a fire sale, you may have to be flexible on the terms of the sale. This means that you may have to sell the property as-is or agree to a shorter closing period. 

If you're considering a fire sale, remember to do your research and be prepared for a quick sale. With the right preparation, you can snag a great deal on a property.