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Newcomers to real estate, and sometimes experts as well, often don’t understand exactly what is meant by a short sale. Yet, Maui short sales are becoming one of the easiest ways to build equity and certainly make for some great investment opportunities. Simply put, a short sale is when a lender accepts less than the remaining balance owed on a property. In many cases, Maui short sales become available because a lender feels that selling the property at a loss is beneficial to chasing a borrower.

Unfortunately, the process of buying short sales in Maui isn’t quite the same as typical real estate transaction. Purchasing Maui short sales can involve a long process that is often shrouded in uncertainty. Nevertheless, when it comes to purchasing short sales in Maui, patience is a virtue. Recent Maui short sales have sold for a fraction of the listing price and sometimes you can save as much as 20%. As such, hiring an experienced Realtor^®, like Ken Smith and his team, can help you navigate the ins and outs of Maui short sales and potentially save you a bundle of money.

Keep in mind, Maui foreclosures and Maui short sales aren’t for everyone. While the Smith Team has extensive experience with short sales in Maui, there are some factors to consider before following this path. First of all, buying and selling a home can be a particularly emotional experience and buying short sales in Maui involves a more complicated, lengthy, and ultimately stressful experience. The Smith Team can put their experience to work for you but you must be ready for the process.

Maui short sales are definitely a great way to break into an otherwise expensive market and many individuals interested in vacation homes or rental properties would likewise be interested in short sales in Maui. Certainly, as the economy continues to struggle, short sales in Maui have become more common. Because Maui foreclosures are also more commonplace, many sellers are turning to short sales to avoid foreclosure. As a result, the opportunities are aplenty at the moment; but as the economy improves expect short sales to become more rare.