Want to make a deal on a short sale?

A short sale means the seller's lender has agreed to get a reduced amount to release a mortgage. If you have any questions regarding 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.

Can I get a bargain on a short sale?

From time to time, yes. Most people hear the term "short sale" and automatically think of a seller that is in trouble and needs to sell their house promptly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In cases such as these the reduced price may in fact be in line with current market values instead of below.

What's involved in buying a short sale?

  • Always do your research before making any offers. Using a qualified real estate professional from Southdale Properties, Inc. to support your research of a property will help you make informed decisions. We can help learn to whom the property is titled, the amount 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.
  • Use a REALTOR® with short sale experience. Southdale Properties, Inc. can assist you in expediting the transaction and ensure that you're protected. Don't let inexperience impede the closing process. Let my experience and knowledge work for you.

  • 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 aware that many 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 sale terms. A lot of the time your offer will be presented to 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 working with a short sale. The lender is selling the property just the way it is which means the lender will not be paying 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'm looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.
When it's time to buy, whether it is a short sale or a typical home sale, Southdale Properties, Inc. can help you. Apply my experience and knowledge of real estate to feel confident you are getting a fair deal and will be protected during the full process.