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Ready to purchase a short sale?

If a homeowner is upside down on their mortgage payments, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's owed. For more information, you can contact me through my site or e-mail me. I'm glad 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.

Can I get a bargain on a short sale?

Every now and then a good deal will come along. Many people hear the term "short sale" and routinely think of a seller that is in trouble and must sell their home promptly to prevent further financial problems. This is occasionally 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 with their mortgage, but property values have fallen. In these cases the "bargain" price may in fact be consistent with true market values rather than below.

How do I buy a short sale?

Always do your homework before making any offers. Using a knowledgeable REALTOR^® from J. Briann Realty Group, Inc. to help you research a property can help you make informed 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. Getting these facts can help you determine how much to offer.
Hire a real estate agent with short sale expertise. J. Briann Realty Group, Inc. can assist you in expediting the transaction and make certain you're protected. Don't permit 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 of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be informed 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 discounted price. In most cases your offer will go before 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 generally not negotiable when working with a short sale. The lender will be selling the property "as is" which means the lender isn't going to pay for repairs. Make 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 results of the inspections.

When it is time to buy, whether it be a short sale or a typical home sale, J. Briann Realty Group, Inc. can help you. Utilize my experience and knowledge of real estate to be certain that you're getting a fair deal and remain protected during the whole matter.

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