Want to make a deal on a short sale?

When a homeowner owes more on their home than its value, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's owed. For more information, just contact me through my site or e-mail me. I'm happy to answer any questions you have about real estate short sales.

Purchasing a short sale in West Palm Beach, Florida on your own is risky. Contact J. Briann Realty Group, Inc. for expert advice.

Are short sales good deals?

The short answer is "sometimes". Many people hear the words "short sale" and instinctively think of a seller that is in trouble and needing to sell their house fast to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to take advantage of 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 fallen. In these cases the "bargain" price may in fact be consistent with actual market values, not below.

Are you ready to buy a short sale property?

  • Always do your homework before making any offers. Using an experienced real estate agent from J. Briann Realty Group, Inc. to support your research of a property will help you make informed decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this information can help you determine how much to offer.
  • Use an agent with short sale expertise. J. Briann Realty Group, Inc. can assist you in expediting the transaction and make sure you're protected. Don't let inexperience hold up the closing process. Let my experience and knowledge work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that many short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. Commonly, your offer will go before 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 typically non-negotiable when dealing with a short sale. The lender will be selling the property just the way it is which means the lender isn't going to pay for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At J. Briann Realty Group, Inc., when I write an offer, I am looking out for your interests first and will always suggest that you make your offer contingent upon the outcome of the inspections.
If you're ready to buy, whether it be a short sale or a typical home sale, J. Briann Realty Group, Inc. is available for you. Apply my experience and knowledge of real estate to make sure that you are getting a fair deal and protect yourself during the full purchase transaction.

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