Looking to purchase a short sale?

When a lender and a seller agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, you can contact me through my site or e-mail me. I'm happy to answer 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 bargains?

Sometimes. Most people hear the words "short sale" and instinctively think of a seller that is in trouble and must sell their property quickly to prevent further financial problems. This is at times 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 cases such as these the discounted price may in fact be consistent with current market values instead of below.

What's involved in buying a short sale?

  • Always do your homework before making any offers. Using a qualified REALTOR® from J. Briann Realty Group, Inc. to help you research a property can help you make knowledgeable 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. Locating this info can help you make a decision about how much to offer.
  • Use a REALTOR® with short sale experience. J. Briann Realty Group, Inc. can aid you in expediting the transaction and make sure you're protected. Don't let inexperience delay 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 informed that a majority of 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. Commonly, your offer will be presented to a committee to approve or disapprove, 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 will sell the property just the way it is which means the lender won't be paying 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 advise you to make your offer contingent upon the results of the inspections.
When it's time to buy, whether it's a short sale or a typical home sale, J. Briann Realty Group, Inc. is here to help. Apply my experience and knowledge of real estate to be confident you are getting a fair deal and remain protected during the complete process.

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