buying a short sale: First Time Home buyer in Highlands County: Is a Short Sale right for me? - 08/28/09 06:37 AM
First Time Home buyer in Highlands County: Is a Short Sale right for me?A short sale is not much different from a regular sale, the only difference being that it will take longer to close because the seller's lender has to approve the sale. The lender's approval is a contingency in the contract that the seller needs to remove, by getting approval, in order for the transaction to close.
How long does it take to get approval?We don't know. There is no rule and there are no guidelines. We have had approval within 3 weeks and we have transactions that are still … (0 comments)
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buying a short sale: Making an offer on a Highlands County Home - Put it all in writing! - 08/23/09 04:58 PM
Highlands County Real Estate - Making an offer? Put it in writing!
In Florida, the Statute of Frauds requires contracts for sale and purchase of real estate to be in writing and signed in order to be enforceable.What does this mean for you as a buyer? Let's go shopping and find you your dream home. It has everything you've been looking for, it's not a short sale and it's within your price range. Your agent writes up the offer. The seller counters back, in writing. You counter back, verbally. The seller agrees verbally. The seller is being presented with another … (2 comments)
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buying a short sale: Buying a Short Sale? You need proof of funds! - 08/22/09 09:53 AM
Buying a Short Sale? You need proof of funds! With so many short sales around it's hard these days to NOT find your dreamhome. For example, you can find a fairly new 3 bedroom home in a nice neighborhood in Sebring for around $100,000. Amenities include tennis courts, community pool, 2 Championship Golf Courses, biking/hiking trails, community-fire department, community-security force, clubhouse. As you probably already know, the seller's lender must approve the sale because the sale price is less than the seller's mortgage pay off - a short sale in a nutshell. Along with your offer, you are asked to submit … (1 comments)
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