Short Sales In Palm Coast Florida ... and other places ...

By
Real Estate Agent with Hammock Luxury Realty

Short Sales --- You hear about them almost everyday, in the news, cutomers calling about them.  What is a Short Sale?  Find me a Short Sale!!

What is a Short Sale?  It is when the bank has made an agreement to except from the owner less money on the home then what they owe on the home.  The Owner has to fill out a package from the bank showing a hardship and why they need to sell for less money.   

Short Sales are the hardest kind of sale to deal with, because of all the people wanting the banks to take less money, their employees have a mound of paperwork on their desk -- which means, most of the time, the potential buyer has to wait anywhere from 60 days to months to hear back from the bank as to whether they have excepted their offer or not.

And ... Short Sales are not always the best deal out there!!  Just because the bank has agreed to take less money than what is owed on the house does not mean that the amount they will except on the house is below today's market value.  And some banks are letting the homes sit there if the offers are too low, figuring that prices will go up next year and so they let the house sit for a year and perhaps next year they won't have to take such a low amount.

There are Sellers out there that are moving and need to sell who are pricing their homes at market value and below and have outstanding beautiful homes for sale, homes they have equity in, homes they can offer to a buyer for less money .. and perhaps the better deal then the short sale, or foreclosure that might be a little less money but actually takes more money to fix up.

So take your time, take a look around, compare apples to apples and let your REALTOR find you that perfect place to call home .... there are some great homes available in Palm Coast Florida ... and a lot of them are just from motivated sellers ...

See some of these homes at www.DiscoverPalmCoastFlorida.com

 

Comments (1)

Anonymous
joe

i can say first hand that shortsales are just a delay tactic for the home owner who is facing foreclosure. i had a bank accept my offer only to find out there was another loan.

7 months later and i'm told the house will be going into foreclosure

Jan 16, 2009 09:03 AM
#1