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Want to buy a short sale?

A short sale happens when the seller's lender has agreed to accept a reduced payment to release a mortgage. Should you have any questions regarding real estate in Fort Walton Beach, Florida, contact me here or e-mail me.

Purchasing a short sale in Fort Walton Beach, Florida on your own is risky. Contact Coast to Coast Property Brokers 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 words "short sale" and instinctively think of a seller that is in financial trouble and must sell their house quickly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these cases the reduced price may in fact be in line with actual market values rather than below.

What's involved in buying a short sale?

  • Prior to making any purchase offers, do your research. Using an experienced real estate agent from Coast to Coast Property Brokers to assist you with researching a property will help you make educated decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you make a decision about how much to offer.
  • Use a real estate professional with short sale experience. Coast to Coast Property Brokers can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to hold up the closing process. Put my knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that most short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. Commonly, your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are typically non-negotiable when buying a short sale. The lender is selling the property as seen which means the lender isn't going to pay for repairs. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Coast to Coast Property Brokers, when I write an offer, I'm looking out for your interests first and foremost and will always advise you to make your offer contingent upon the results of the inspections.
When you are ready to buy, whether it is a short sale or a typical home sale, Coast to Coast Property Brokers is here to help. Utilize my experience and knowledge of real estate to be confident you're getting a fair deal and will be protected during the complete process.