short sales: Buying a Short Sale - Are You a Good Candidate?
- 04/08/10 12:41 PM
With the goal of landing a bargain many buyers in today's market are interested in purchasing short sale properties. But not all buyers are ideal candidates for such transactions. If your home buying criteria includes any of the following you may not be a good candidate: You have a lot of contingencies You need to sell your current home before purchasing another You need to close quickly You do not have resources to repair and rehab the property, if needed If you determine that you are a good candidate for buying a short sale and want to make an offer, here … (3 comments)
short sales: Top 10 Potential Pitfalls to Purchasing a Foreclosed Home in Florida
- 02/14/10 12:08 PM
With a myriad of distressed properties on the market and more looming, many home buyers are clamoring to purchase foreclosed homes. But you need to be aware of the potential pitfalls in purchasing a distressed property, especially the risk associated with the cost to repair any deficiencies that a buyer assumes in an as-is foreclosure transaction. Here are 10 areas to watch out for when considering a foreclosed home: 1. No power to the house. If the home has been without power for some time then chances are it has not been properly air conditioned. With our hot humid Florida climate … (3 comments)
short sales: Buying a Short Sale or Foreclosure - The Risk and Reward
- 07/01/09 08:51 AM
The soft real estate market here on the Treasure Coast is attracting a wave of primary and second home buyers who have been sitting on the sidelines waiting for an opportunity to buy a first home, "snowbird" retreat or retirement home. Their patience is being rewarded with an abundance of readily available distresed properties at prices well below the $150,000 mark. These homes are typically short sales and foreclosures, which raises several questions about which type of sale to pursue and at what price.Short Sale vs ForeclosureSimply put, a short sale occurs when the seller's lender agrees to a sale for less than the mortgage balance. It is the … (0 comments)
short sales: Murphy's Law And Buying Distressed Florida Properties
- 01/08/09 12:32 AM
Having closed several hundred transactions over the past five years, I thought I had experienced just about every obstacle Murphy's law could throw in the path of a successful closing. From intransigent sellers to inflexible buyers, we have worked our way through negotiations and dealt with whatever was thrown in the path towards settlement. The latest wrinkle of course is the emergence of short sale and foreclosure (also known as "REO" or bank owned) properties, which add to the mix of potential bottlenecks in a transaction. That said, here are some of my own experiences with Murphy's law as it pertains to selling distressed homes: Time … (0 comments)
short sales: WebReport: Notes on The Short Sale Process
- 09/19/08 09:24 PM
At first it was those crazy adjustable mortgages that drove thousands of homeowners into short sale or foreclosure situations. But with the worsening economy, increasing joblessness and ballooning energy costs, many homeowners previously unaffected by the mortgage meltdown are facing similar circumstances through no fault of their own. In an effort to stave off foreclosure and lessen the impact on their credit rating, many distressed homeowners are turning to short sales as an alternative. What is a short sale? Basically a short sale is when the value of the mortgage is greater than the value of the property. When this … (0 comments)
Home For Sale in Port St Lucie / Gatlin Area … (0 comments)
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