Looking to buy a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale.

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. Often times people hear the phrase "short sale" and routinely think of a seller that is in default and needing to sell their house promptly 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, but property values have depreciated. In these cases the "bargain" price may in fact be in line with true market values instead of below.

Are you ready to buy a short sale property?

  • Before making any purchase offers, do your homework. Using a qualified real estate professional from Coast to Coast Property Brokers to assist you with researching a property can help you make informed 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. Finding this information can help you determine how much to offer.
  • Get an agent with short sale expertise. Coast to Coast Property Brokers can assist you in expediting the transaction and make sure you're protected. Don't allow inexperience to hold up the closing process. Let my experience and knowledge work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Know that most short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. A lot of the time your offer will be sent 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 typically non-negotiable when dealing with a short sale. The lender will be selling the property "as 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 Coast to Coast Property Brokers, when I write an offer, I am looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the inspection results.
When it is time to buy, whether it be a short sale or a typical home sale, Coast to Coast Property Brokers can help you. Apply my experience and knowledge of real estate to feel confident you're getting a fair deal and are protected during the whole transaction.