Destin Foreclosures and Short Sales

Destin Foreclosures and Short Sales

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I am going to tell you a big secret.  If you are looking for a way to get a great deal on Destin and 30A Real Estate, you really should consider short sales.  I stay very busy helping distressed property buyers and sellers in Destin, Sandestin and Santa Rosa Beach FL , and I will tell you;  "currently, the best deals to be had are short sales. "  Short Sales are also a great option for buyers that plan to purchase with a financing contingency.

I list REO properties for bankers and and I represent many buyers in bank owned transactions and I will tell you first hand that they are extremely competitive right now.  The investors swarm the bank owned homes, condos, and lots and If you do not have cash, your liklihood for success will be very low.  If it is a good property at a reasonable price, you are guaranteed to have a fight! "Fight" meaning a multiple offer situation and a possible price well over asking.  In the past few weeks I have seen REO properties with up to 10 OFFERS! This really is crazy.  It creates a feeding frenzy and the properties often end up selling for over the appraised value.  

Yes, you can get a great deal on an REO property but you need to move super fast and be ready to close quickly.

If you are looking for a great deal, do not discount Destin and 30A Short Sales.  Short Sales are complex and they do take time but they can be very rewarding.   They are not for everyone but if you can be patient and you are interested in a great deal, you need to look at short sales.

Destin and 30A Short Sale and Foreclosure Search

Here are the Basics.

* Short Sales are pre-foreclosure.  The bank does not own the property and the seller will submit your offer and try to work things out with the lender.  There are no guarantees but most banks are happy to do a short sale.  Most short sales take 3 to 6 months to close.  If the seller has a true "Hardship" the chances for success are greater.

* REO Properties are Bank Owned and they can be closed immediately.  These properties are in high demand and you will often find yourself in a multiple offer situation.  A bid over the asking price may be required to purchase the property.

If you are considering buyeing or selling a short sale, please give me a call and I will be happy to tell you everything I know.