Barton Property Group and Buying Short Sales


Success Rate:

At Barton Property Group we have one of the highest success rates with short sales. The industry standard is that only 1 in 3 short sales actually closes. Our company closes 90 % of our short sales!

What is a Short Sale?

With today's falling real estate market, many homeowners are finding themselves over-burdened with unmanageable mortgages but unable to sell their homes. They presently owe more on the mortgage than their homes are worth, they can't manage the mortgage payments, and they can't sell their homes.

A short sale is where the bank agrees to discount the mortgage on the property in order for the home to be sold for less than what is owed on it. This is a win for the seller because it allows them to get rid of a large debt they cannot pay and restore their credit, it is a win for the bank because they don't have to foreclose on a property and they get rid of a non-performing loan, and it is a BIG WIN for the buyer who gets to buy a property at below market rates!

Two Different Buying Scenarios:

1.  Our company negotiates the short sale with the lender and you buy the property from us. In order for this scenario to work, you must either have a cash offer or hard money loan, or you must have a regular mortgage with no seasoning issues (meaning your lender does not require us to own the property for a minimum of 3 - 6 months in order for you to get the loan). In order to ensure that your mortgage goes through and you don't have any closing issues, we would recommend you use one of our experienced mortgage brokers who know how to make these things work. These properties usually need some amount of renovations which is why we are able to buy them at such a discount. All this translates into big savings for you as the buyer.

2.  Our company negotiates your offer between the seller and the bank. You would buy it straight from the homeowner, but needing the bank's approval. These properties usually don't require as much rehab, but are still sold at substantial savings for you as the buyer.


The Process:

Short sales generally take from 3 - 6 months from beginning to end. The banks are unbelievably over-worked, and their systems are very slow and inadequate. By the time we involve you as a buyer, it is usually just 1 - 2 months to complete. We pride ourselves in very persistent and effective communications with the banks and in relaying that information to both buyers and sellers. Although there is a wait involved, the prices make it worthwhile!

We believe our success is related to our experience negotiating short sales, our inside knowledge of the various banks and their systems, our persistent and effective communication with everyone involved, and our vast network within the industry. We have many testimonials of sellers, buyers, and other professionals within the business who will vouch for our competence and integrity.