Short sales can represent good deals. This happens when buyers cannot make their mortgage payment and end of working things out with their lender to get their home sold less than the costs they owed on the mortgage. Why would the lender do this? Because they know how much a full-battle drawn out foreclosure can costs them-approximately
$50,000 a home.
There are many benefits of purchasing a short-sale. First is you can place an offer early before the home gets to a court-house auction or back into a bank’s inventory (i.e. an REO). If the bank agrees to your offer, you can scoop up the home before others know about it. The only caveat is you have to wait a couple of months for the bank to approve your offer which is known as “short-sale approved.” If you have the time to wait up to 6 months then it is totally worth it.
Here are three friendly tips to help you on your way in purchasing a short-sale home:
1. Contact Florida Capital Realty and ask to speak to a short-sale expert
2. View different short sales
3. Make an offer
First thing you need is a seasoned expert. At Florida Capital Realty, we have an entire division to handle your foreclosure needs. We even have a short-sale attorney that you can consult with absolutely free! We will provide you with a list of various short sales but more importantly with a zoomed in list of short sales that are considered “aged” or that have been sitting on the market greater than 90 days. Why? These represent the best values. If a short-sale is still on the market as “active” greater than three months then the bank’s are more acquiescent
to accept your offer. Remember, every day costs them hundreds of dollars.
Once you find aged homes, our agents will schedule appointments for you to view the interior. After you identify your perfect dream home the fun begins. This is what separates good agents from excellent Florida Capital Realty agents. Because placing an “offer” on a short-sale is considered an art versus a science, we will guide you in getting your offer accepted. For example, the biggest mistake home buyers do is make an offer on a home that is a “low ball” offer where the lender rejects the offer, and the same home buyer increases their offer by only a $1000 more. This only aggravates and pisses off the bank. So, you need a Florida Capital Realty short-sale expert by your side.
Contact us today so we can get you into your dream home:
888-846-4846
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