Ready to purchase a short sale?


	When a seller owes more on their home than its value, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's due. If you have questions about real estate in Venice, Florida, contact me here or e-mail me.

Purchasing a short sale in Venice, Florida on your own is risky. Contact Alice Salaices - Realtor for expert advice.

Can I get a bargain on a short sale?

From time to time, yes. Most people hear the words "short sale" and automatically think of a seller that is in default and needing to sell their home promptly to prevent 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. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these cases the discounted price may in fact be consistent with true market values, not below.

Are you ready to buy a short sale property?

Before you make any purchase offers, do your research. Using a knowledgeable real estate professional from Alice Salaices - Realtor to support your research of a property can help you make informed decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you determine how much to offer.
Get a real estate agent with short sale expertise. The real estate agents at Alice Salaices - Realtor can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to impede the closing process. Let our experience and knowledge work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Know 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. It's not uncommon that your offer will be presented to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are normally not up for negotiation when buying a short sale. The lender will be selling the property as seen which means the lender won't be paying for repairs. Be sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Alice Salaices - Realtor, when we write an offer, we will be looking out for your interests above all else and will always advise you to make your offer contingent upon the outcome of the inspections.

If you're ready to buy, whether it is a short sale or a typical home sale, Alice Salaices - Realtor can help you. Apply our experience and knowledge of real estate to make sure that you are getting a fair deal and remain protected during the complete matter.