Ready to make a deal on a short sale?

A short sale happens when the homeowner's lender has agreed to collect a reduced payoff to release a mortgage. For more information, just contact me through my site or e-mail me. I'm happy to answer any questions you have about real estate short sales.

Purchasing a short sale in Lake Worth, Florida on your own is risky. Contact Southdale Properties, Inc. for expert advice.

Are they good deals?

Sometimes. Many people hear the phrase "short sale" and routinely think of a seller that is insolvent and must sell their home fast to prevent 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 fallen. In these instances the discounted price may in fact be consistent with true market values instead of below.

What's involved in buying a short sale?

  • Prior to making any purchase offers, do your research. Using a qualified REALTOR® from Southdale Properties, Inc. to assist you with researching a property will 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. Obtaining these facts can help you decide how much to offer.
  • Use a real estate professional with short sale knowledge. Southdale Properties, Inc. can aid you in expediting the transaction and ensure that you're protected. Don't permit inexperience to slow down the closing process. Put my knowledge and experience to work for you.

  • 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 a majority of short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the terms of the sale. It's not uncommon that your offer will be seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are normally not up for negotiation when working with a short sale. The lender is selling the property as seen which means the lender isn't going to pay for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Southdale Properties, Inc., when I write an offer, I will be looking out for your interests above all else and will always suggest that you make your offer contingent upon the inspection results.
When you are ready to buy, whether it's a short sale or a typical home sale, Southdale Properties, Inc. can help. Use my experience and knowledge of real estate to feel confident that you are getting a fair deal and are protected during the full matter.