Looking to make a deal on a short sale?

If a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for a sum less than what's due.

Purchasing a short sale in Sugarloaf Key, Florida on your own is risky. Contact Mia Howe for expert advice.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Often times people hear the phrase "short sale" and instinctively think of a seller that is in default and needs to sell their home fast to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the reduced price may in fact be closer to actual market values instead of below.

What's involved in buying a short sale?

  • Prior to making any purchase offers, do your research. Using a qualified real estate agent from Mia Howe to support your research of a property will help you make informed decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you make a decision about how much to offer.
  • Get a real estate agent with short sale knowledge. Mia Howe can assist you in expediting the transaction and make sure you're protected. Don't let inexperience impede the closing process. Put my knowledge and experience to 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. Know that most short sales will not close in 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 sale terms. In most cases your offer will be sent to 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 generally not negotiable when buying a short sale. The lender will sell the property just the way it is which means the lender will not be paying for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Mia Howe, when I write an offer, I will be looking out for your interests first and will always recommend that you make your offer contingent upon the results of the inspections.
When it's time to buy, whether it be a short sale or a typical home sale, Mia Howe is here to help. Use my experience and knowledge of real estate to be confident you're getting a fair deal and remain protected during the entire matter.

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