I know the title implies the time honored question...the chicken or the egg? But the answer is...the sale or the purchase?
I was speaking with someone a couple of days ago who had accompanied a friend to see a listing. She told me she had no real estate agent and had searched Google for "Short Sale Brevard County" and I was the first name in the results. This Internet stuff really does work!
She was unfamiliar with the "short sale" process but was curious. As there are literally hundreds of short sales in central Brevard County, Florida, I was happy to tell her all I knew. Some may say that took only a couple fo minutes...OK, funny!
I explained the process involved the purchase of a home where the sale is subject to third party (lender) approval. I discussed her current residence and if there was a need (or desire) to sell it before gaining mortagge loan approval. In her case I believe she may be able to qualify without selling but I recommended she discuss the scenario with a knowledgeable lender.
So, will the sale come first or the purchase? It will depend on her lender and intentions.
Some are now entering the market to take advantage of the lower prices. Some are taking a long term view and selling existing homes for less in exchange for purchasing a newer, larger home for less. Some are converting the older homes to rental properties.
If either of these scenarios fit your circumstance and goals, please contact me to discuss how I may assist you in buying or selling real estate along Florida's Space Coast.
Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me directly at 321-693-3850 or email me at firstname.lastname@example.org.
Please visit my blog Florida Homes For Sale.