Just the term brings up possibility and makes the investor inquisitive. Short sales however can be anything but short. They can be a godsend to both the seller and the home purchaser or a total nightmare to both. Get your hopes to high, and they come crashing down. Overlook a great deal and cost yourself a great investment and possibly tens of thousands of dollars and interest buying a similar home in a traditional purchase. This is why you should trust the steady experienced hand of a Realtor who has handled countless short sales and similar purchases. Extra experience can only assist you in making the decisions that all ultimately yours to make.
First why are there short sales and why would a seller choose to sell their home in this manor? A short sale happens when a home owner can no longer make their payments and can demonstrate an acceptable reason to their lender that is the case. You can not just decide to short sale a home. A lot of documentation is required by the bank to justify the transaction. A savvy home owner will enlist the assistance of a local Realtor and potentially an attorney to handle this for them. Still they seller must handle providing the documentation. In Florida I know of not one bank which will allow a home owner to short sale their own property. They require the services of a Realtor and the Bank ultimately pays the Realtor at closing. This is very much a process and has to be accomplished in a timely manner to be successful. This is an excellent time to select Wendy Morris Realty our experience is unmatched in this area and we can advise you through the entire process.
Purchasing a short sale can be a great windfall. Most homes which are priced accordingly will have multiple offers. A mistake in filing an offer will make your offer look less attractive to a seller. This is because they are paying attention and wanting a successful transaction. They may very well choose a represented purchaser over an individual simply because they know that the deal is more likely to be successful with an experienced Realtor ironing out the issues on both sides. There will likely be several opportunities for the entire deal to fall through. You will have an appraisal, home inspection and then likely the current owner’s emotions to deal with. After all, to them this is their home and an arduous thing is happening. Many homeowners take solace in knowing that the new owner appreciates the home and will love it, as opposed to flipping it. Relationship also plays a part in the process, hence the steady hand of Wendy Morris Realty handling all of the communications for you and the necessary paperwork.
If you are considering a short sale from either side buying, or selling contact us. We would gladly speak with you and if needed make referrals, and lend our experience in these matters to you through the entire short sale process. There are some short sales in Orlando and Windermere fl.