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Ready to purchase 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. If you have questions about real estate in Lake Worth, Florida, contact me here or e-mail me.

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

Are they good deals?

Occasionally. Many people hear the phrase "short sale" and instinctively think of a seller that is in default and must sell their property promptly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these instances the discounted price may in fact be in line with current market values, not below.

Are you ready to buy a short sale property?

  • Always do your homework before making any offers. Using a qualified REALTOR® from Southdale Properties, Inc. to assist you with researching a property will help you make educated 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. Locating these facts can help you decide how much to offer.
  • Get a real estate professional with short sale expertise. Southdale Properties, Inc. can help expedite the transaction and make certain you're protected. Don't allow inexperience to hinder 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 probably take longer than a typical real estate transaction. Be aware that most short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. Commonly, your offer will be seen by 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 working with a short sale. The lender is selling the property just the way it is which means the lender isn't going to pay for repairs. Always 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'm looking out for your interests above all else and will always advise you to make your offer contingent upon the results of the inspections.
When it's time to buy, whether it's a short sale or a typical home sale, Southdale Properties, Inc. can help you. Utilize my experience and knowledge of real estate to be certain you are getting a fair deal and protect yourself during the entire matter.