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Looking to make a deal on a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. For more information, just contact me through my site or e-mail me. I'm glad to address questions you have regarding 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?

From time to time, yes. Most people hear the phrase "short sale" and instinctively think of a seller that is in default and must sell their house quickly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In cases such as these the discounted price may in fact be closer to true 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 Southdale Properties, Inc. to help you research a property can help you make educated decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating this information can help you determine how much to offer.
  • Hire an agent with short sale experience. Southdale Properties, Inc. can help expedite the transaction and make sure you're protected. Don't allow inexperience to impede the closing process. Put my experience and knowledge to work in your favor.

  • 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. Know that most short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will go before 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 normally not negotiable when buying a short sale. The lender will sell the property just the way it is which means the lender isn't going to pay for repairs. Make sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Southdale Properties, Inc., when I write an offer, I am 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 be a short sale or a typical home sale, Southdale Properties, Inc. can help you. Apply my experience and knowledge of real estate to be confident that you're getting a fair deal and protect yourself during the whole deal.