Ready to make a deal on a short sale?

When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. If you have any questions regarding real estate in Ft. Myers Beach, Florida, contact me here or e-mail me.

Purchasing a short sale in Ft. Myers Beach, Florida on your own is risky. Contact RE/MAX Realty Group for expert advice.

Can I get a bargain on a short sale?

Sometimes. Many people hear the words "short sale" and instinctively think of a seller that is in trouble and needs to sell their property quickly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these instances the reduced price may in fact be closer to actual market values rather than below.

Are you ready to buy a short sale property?
  • Always do your homework before making any offers. Using a knowledgeable REALTOR® from RE/MAX Realty Group to assist you with researching a property will help you make informed decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Locating this info can help you decide how much to offer.

  • Hire a real estate agent with short sale experience. The real estate agents at RE/MAX Realty Group can aid you in expediting the transaction and make sure you're protected. Don't allow inexperience to impede the closing process. Let our experience and knowledge work in your favor.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be informed that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will be presented to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are generally not negotiable when dealing with a short sale. The lender will sell the property "as is" which means the lender will not be paying for repairs. Make sure to reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At RE/MAX Realty Group, when we write an offer, we're looking out for your interests above all else and will always suggest that you make your offer contingent upon the results of the inspections.
When it's time to buy, whether it's a short sale or a typical home sale, RE/MAX Realty Group can help you. Apply our experience and knowledge of real estate to make sure that you are getting a fair deal and will be protected during the entire purchase transaction.


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