Looking to make a deal on a short sale?

A short sale is when the seller's lender has agreed to get a reduced payment to release a mortgage. Should you have questions about real estate in Parrish, Florida, contact me here or e-mail me.

Purchasing a short sale in Parrish, Florida on your own is risky. Contact Leslie Wells Realty, Inc for expert advice.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Many people hear the phrase "short sale" and automatically think of a seller that is in financial trouble and needing to sell their property quickly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have fallen. In these cases the reduced price may in fact be in line with true market values, not below.

What's involved in buying a short sale?
  • Always do your research before making any offers. Using an experienced real estate professional from Leslie Wells Realty, Inc to support your research of a property will help you make knowledgeable decisions. We can help reveal to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you make a decision about how much to offer.
  • Get a REALTOR® with short sale expertise. The real estate agents at Leslie Wells Realty, Inc can aid you in expediting the transaction and make sure you're protected. Don't permit inexperience to impede the closing process. Put our knowledge and experience to work for you.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the terms of the sale. A lot of the time your offer will go before a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are normally non-negotiable when buying a short sale. The lender will sell the property "as is" which means the lender will not be paying for repairs. Make sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Leslie Wells Realty, Inc, when we write an offer, we're looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the results of the inspections.
When it is time to buy, whether it is a short sale or a typical home sale, Leslie Wells Realty, Inc can help you. Utilize our experience and knowledge of real estate to be confident you're getting a fair deal and are protected during the complete purchase transaction.

                         

      pat@patbakersellsflorida.com


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