So you found a house you like and the price is good, but it's a SHORT SALE. Now what?
I find home buyers shriek in terror. They think of every negative of "what could go wrong". But what if it goes right?
But let's be positive about buying a short sale property.
1) A short sale is a financial deal.
2) Over 7% over residential properties are on the market as a short sale
3) Banks are now willing to negotiate. They are no longer in denial
Want you need is to hire a good negotiator, this will be your Realtor. The first to find out is the seller qualify for a deficient short sale or can they take a note from the lender for the deficiency. Check this out before you get started.
All short sale forms with the contract go to the bank. This is where the negotiation starts. Although the short sale may be listed at a very low price, it will sell as if in a bidding game. With a good negotiator on your side, you'll come out ahead. The bank will not take any action until all forms are in and complete.
What about all that waiting time? Well you're saving money on the short sale. Think of how long it would take to earn that money. Bankers are not in the business to sell houses and they get paid weather or not the house is sold. On the other hand, they want to get rid of default loans. So as a buyer, you still have the upper hand.
If you're looking to take advantage of one of the many bargain homes on the market, you should hire me.
239 292 1358