Want to make a deal on a short sale?

A short sale means the homeowner's lender has agreed to receive a reduced payment to release a mortgage. Should you have questions about real estate in Sugarloaf Key, Florida, contact me here or e-mail me.

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

Can I get a bargain on a short sale?

Occasionally. Many people hear the words "short sale" and instinctively think of a seller that is insolvent and must sell their house promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have depreciated. In cases such as these the discounted price may in fact be in line with actual market values, not below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a knowledgeable REALTOR® from Mia Howe to support your research of a property will help you make educated decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you determine how much to offer.
  • Use a real estate agent with short sale expertise. Mia Howe can assist you in expediting the transaction and ensure that you're protected. Don't allow inexperience to impede the closing process. Let my experience and knowledge 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 informed that most short sales will not close in the customary 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 discounted price. Commonly, your offer will be presented to a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when dealing with a short sale. The lender is selling the property "as is" which means the lender won't be paying for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Mia Howe, when I write an offer, I will be looking out for your interests above all else and will always advise you to make your offer contingent upon the inspection results.
If you're ready to buy, whether it be a short sale or a typical home sale, Mia Howe is available for you. Utilize my experience and knowledge of real estate to feel confident you're getting a fair deal and remain protected during the complete purchase transaction.

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