Ready to buy a short sale?

When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. If you have any questions about real estate in West Palm Beach, Florida, contact me here or e-mail me.

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

Can I get a good deal on a short sale?

From time to time, yes. Often times people hear the term "short sale" and automatically think of a seller that is in financial trouble and must sell their property promptly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, 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 closer to actual market values, not below.

Are you ready to buy a short sale property?

  • Prior to making any purchase offers, do your homework. Using a knowledgeable real estate professional from J. Briann Realty Group, Inc. to support your research of a property can help you make knowledgeable decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you decide how much to offer.
  • Hire a REALTOR® with short sale experience. J. Briann Realty Group, Inc. can help expedite the transaction and make certain you're protected. Don't permit inexperience to 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 usually take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will be seen by 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 usually non-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. 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 foremost and will always suggest that you make your offer contingent upon the inspection results.
When it is time to buy, whether it is a short sale or a typical home sale, J. Briann Realty Group, Inc. is here to help. Utilize my experience and knowledge of real estate to be confident that you are getting a fair deal and remain protected during the full process.

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