So you think you might want to buy a short sale in Panama City? You have heard all of the myths and want to know the truth? We have succssfully negotiated many short sales and know the truth.
Things to keep in mind with a short sale....
- Short sales generally will take 60 to 90 days for approval. Each lender has a process that they follow to evaluate the property to make a decision on what they will sell for.
- The contract for purchase is a contract between the buyer and the seller, the lender is only involved since the seller owes more than what the home is worth and needs to release the lien in order to facilitate the sale.
- A short sale occurs when the proceeds from the sale of a home will not pay off the mortgage.
- Short sales are a great way to find a great deal on a property, they will usually sell for a fraction of the appraised price depending on the lender. Panama City short sales average 80 to 85% of appraised price.
If you are looking for a short sale, be prepared to make your best offer, be prepared to be patient and be ready to close when the short sale is approved.
To find a short sale or foreclosure in Panama City Florida, check out www.knowpayneknowgain.com or send me an email at jeff.payne@kw.com to be put on our short sale and foreclosure alert list.
Jeff Payne, Broker Associate
The Payne Group at Keller Williams Success Realty
850-890-0132
jeff.payne@kw.com
www.knowpayneknowgain.com
ATTENTION SELLERS, need a short sale realtor to sell your home, www.shortsalesinpanamacity.com
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