Want to make a deal on a short sale?

A short sale is when the homeowner's lender has agreed to receive a reduced amount to release a mortgage. For more information, you can contact me through my site or e-mail me. I'm glad to address questions you have regarding real estate short sales.

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?

Occasionally. Many people hear the phrase "short sale" and routinely think of a seller that is in trouble and needs to sell their home quickly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of 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 declined. In these instances the discounted price may in fact be in line with actual market values rather than below.

What's involved in buying a short sale?

  • Before you make any purchase offers, do your research. Using a qualified real estate professional from Coast to Coast Property Brokers to help you research a property will help you make educated decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Acquiring this info can help you make a decision about how much to offer.
  • Use a real estate agent with short sale expertise. Coast to Coast Property Brokers can help expedite the transaction and ensure that you're protected. Don't allow inexperience to slow down the closing process. Put my experience and knowledge to work in your favor.

  • Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that many 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 sale terms. A lot of the time your offer will be presented to a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when working with a short sale. The lender will sell the property as seen which means the lender will not be paying for repairs. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Coast to Coast Property Brokers, when I write an offer, I am looking out for your interests first and will always recommend that you make your offer contingent upon the results of the inspections.
If you are ready to buy, whether it's a short sale or a typical home sale, Coast to Coast Property Brokers is available for you. Use my experience and knowledge of real estate to be certain you are getting a fair deal and will be protected during the entire purchase transaction.