Short Sale Buyer

When a homeowner owes more on their house than its value, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's owed. For more information, you can contact us through our site or e-mail us. We're glad to answer any questions you have about real estate short sales.

The short answer is "sometimes". Many people hear the words "short sale" and instinctively think of a seller that is in financial trouble and needs to sell their house quickly to avert further financial problems. This is occasionally 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 with their mortgage, but property values have fallen. In these instances the reduced price may in fact be consistent with true market values rather than below.

• Always do your research before making any offers. Using a qualified real estate agent from Greater Orlando Realty USA, Inc to assist you with researching a property will help you make educated decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having this information can help you make a decision about how much to offer.
  
  
• Get a real estate agent with short sale experience. Greater Orlando Realty USA, Inc can aid you in expediting the transaction and make certain 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 of situations, buying a short sale property will probably take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. A lot of the time your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  
  
• Home protection plans, buyer credits and allowances, and closing cost concessions are generally 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. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Greater Orlando Realty USA, Inc, when I write an offer, I will be looking out for your interests above all else and will always recommend that you make your offer contingent upon the outcome of the inspections.

When it is time to buy, whether it is a short sale or a typical home sale, Greater Orlando Realty USA, Inc is available for you. Use my experience and knowledge of real estate to be certain that you're getting a fair deal and remain protected during the whole process.