Ready to buy a short sale?

A short sale means the homeowner's lender has agreed to get a reduced sum to release a mortgage. Should you have any questions about 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.

Are they good deals?

Every now and then a good deal will come along. Often times people hear the term "short sale" and instinctively think of a seller that is in financial trouble and needing to sell their house promptly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these instances the discounted price may in fact be in line with actual market values instead of below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a qualified real estate agent from Coast to Coast Property Brokers to assist you with researching a property can help you make informed decisions. We can help learn to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you determine how much to offer.
  • Get a real estate professional with short sale expertise. Coast to Coast Property Brokers can help expedite the transaction and make certain you're protected. Don't let inexperience hinder the closing process. Put my experience and knowledge to 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 a majority of 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 terms of the sale. Commonly, your offer will be sent to a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are generally non-negotiable when working with a short sale. The lender will be selling the property just the way it 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 Coast to Coast Property Brokers, when I write an offer, I will be looking out for your interests first and will always advise you to make your offer contingent upon the outcome of the inspections.
When you are ready to buy, whether it be a short sale or a typical home sale, Coast to Coast Property Brokers can help you. Use my experience and knowledge of real estate to be confident that you're getting a fair deal and will be protected during the whole matter.