Want to Purchase a Short Sale?

If a seller owes more on their house than its value, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's due. For more information, simply contact me through my site or e-mail me. I'm glad to answer questions you have about real estate short sales.

Purchasing a short sale in Orlando, Florida on your own is risky. Contact Frontline Florida Realty Inc for expert advice.

Can I get a bargain on a short sale?

Sometimes. Most people hear the term "short sale" and instinctively think of a seller that is in financial trouble and needs to sell their house fast to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to take advantage of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In these instances the reduced price may in fact be closer to actual market values, not below.

Are you ready to buy a short sale property?
  • Always do your homework before making any offers. Using a knowledgeable REALTOR® from Frontline Florida Realty Inc to support your research of a property can help you make informed decisions. We can help discover 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 determine how much to offer.
  • Hire a real estate professional with short sale experience. The real estate agents at Frontline Florida Realty Inc can help expedite the transaction and ensure that you're protected. Don't allow inexperience to delay the closing process. Let our experience and knowledge work in your favor.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Be aware that most short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will be sent to a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when dealing with a short sale. The lender will be selling the property just the way it is which means the lender isn't going to pay for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Frontline Florida Realty Inc, when I write an offer, I'm looking out for your interests first and will always advise you to make your offer contingent upon the inspection results.
When you're ready to buy, whether it be a short sale or a typical home sale, Frontline Florida Realty Inc can help you. Use my experience and knowledge of real estate to feel confident that you're getting a fair deal and protect yourself during the complete purchase transaction.

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