Considering Purchasing a Short Sale? Here is some basic information

Thinking about purchasing a short sale in the Orlando area? Compared to South Florida where the supply has been almost exhausted, there are still some opportunities in the South Florida area. As a potential buyers you are going to have questions. Feel free to visit our website to start a search, or call us directly and we can assist you 407-593-8234

Buying a short sale is not for the faint at heart. Typically the purchase of a Short Sale takes significantly longer to close than a traditional Sale. There are however some advantages for the buyer of a  short sale.

• Short Sales and Foreclosures are normally priced lower  than the current regular inventory in a market.
• The lower price makes a larger home or a home in a different neighborhood easier to afford.  With a little luck you might get a home which would otherwise have been your dream home.
• Lenders would prefer to avoid going through the foreclosure process. They do not want to own Foreclosures and if a home can be sold  as a short for a price that will be financially beneficial to them, they will be open to the short sale.
• Short Sales can be financed and I have experience working with buyers and lenders who have financed short sales. Lower prices equate to lower actual down payments. This can mean better affordability.
• Sellers who want to sell are motivated. The final decision is with the bank as to how much they will accept for a short sale. There may be a second phase of negotiations to get through. The sellers  will likely want to move quickly before their situation deteriorates more and they have to face foreclosure. 
• Short Sale Listing agents are working diligently to get properties priced right by banks in order to expedite the sale process and attract the right buyers.

I have had short sales which were very time consuming and difficult, however it is the job of a professional Realtor to accompany a customer through the process and I have done this well.

If you should be looking for a short sale please ensure that you are working with a full time Realtor as the Realtor needs to be available during regular office hours to ensure that the sale is completed.

The LR Team based out of Lake Nona and serving the Orlando/Kissimme St Cloud area can assist you with every step of the process. Let's Talk!